Zacks Investment Research upgraded shares of Molina Healthcare (NYSE:MOH) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning. They currently have $88.00 price objective on the stock.
According to Zacks, “Molina Healthcare’s shares have outperformed the industry in a year's time. The company’s growing top line, backed by consistent membership rise, positions it for long- term growth. Its inorganic strategies also remain accretive to the revenue base. The company has begun an enterprise-wide restructuring program to reduce expenses and improve overall operational efficiency. However, Molina Healthcare suffers from rising medical care costs along with acute dependence on debt financing that have resulted in higher interest expenses, draining the bottom line.”
A number of other brokerages have also recently issued reports on MOH. Morgan Stanley boosted their target price on Molina Healthcare from $68.00 to $89.00 and gave the stock an overweight rating in a report on Friday, November 3rd. ValuEngine cut Molina Healthcare from a buy rating to a hold rating in a report on Friday, December 1st. Raymond James Financial reiterated a hold rating on shares of Molina Healthcare in a report on Friday, December 8th. Jefferies Group boosted their price target on Molina Healthcare from $64.00 to $74.00 and gave the stock a hold rating in a research report on Friday, November 3rd. Finally, Wolfe Research raised Molina Healthcare from a market perform rating to an outperform rating in a research report on Monday, October 23rd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Molina Healthcare has an average rating of Hold and an average target price of $65.83.
Molina Healthcare (NYSE:MOH) last issued its earnings results on Thursday, November 2nd. The company reported ($1.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($1.85). Molina Healthcare had a positive return on equity of 17.76% and a negative net margin of 1.76%. The firm had revenue of $5.03 billion for the quarter, compared to analysts’ expectations of $4.95 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. research analysts expect that Molina Healthcare will post -3.88 EPS for the current year.
In other Molina Healthcare news, insider William Dentino sold 67,500 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $61.49, for a total value of $4,150,575.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John C. Molina sold 19,433 shares of the company’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $77.22, for a total value of $1,500,616.26. Following the completion of the transaction, the director now directly owns 414,915 shares in the company, valued at $32,039,736.30. The disclosure for this sale can be found here. Insiders have sold a total of 729,669 shares of company stock worth $53,143,060 over the last three months. 6.20% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Molina Healthcare by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,619,435 shares of the company’s stock valued at $250,392,000 after purchasing an additional 66,206 shares in the last quarter. Jana Partners LLC increased its holdings in shares of Molina Healthcare by 52.5% in the 3rd quarter. Jana Partners LLC now owns 2,125,351 shares of the company’s stock valued at $146,139,000 after acquiring an additional 731,992 shares during the last quarter. Tiedemann Wealth Management LLC increased its holdings in shares of Molina Healthcare by 7.8% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 1,440,066 shares of the company’s stock valued at $135,000 after acquiring an additional 103,775 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Molina Healthcare by 14.5% in the 2nd quarter. Northern Trust Corp now owns 900,946 shares of the company’s stock valued at $62,328,000 after acquiring an additional 113,808 shares during the last quarter. Finally, Rothschild Asset Management Inc. increased its holdings in shares of Molina Healthcare by 6.1% in the 3rd quarter. Rothschild Asset Management Inc. now owns 706,683 shares of the company’s stock valued at $48,592,000 after acquiring an additional 40,737 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.
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Molina Healthcare Company Profile
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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