Wells Fargo & Company Cuts Molina Healthcare (NYSE:MOH) Price Target to $301.00

Molina Healthcare (NYSE:MOHGet Rating) had its price objective decreased by analysts at Wells Fargo & Company from $308.00 to $301.00 in a research report issued on Wednesday, The Fly reports. Wells Fargo & Company‘s target price would indicate a potential downside of 3.71% from the company’s previous close.

A number of other brokerages have also weighed in on MOH. Morgan Stanley reduced their price target on Molina Healthcare from $397.00 to $365.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 22nd. Cowen raised their target price on shares of Molina Healthcare from $356.00 to $366.00 in a research report on Monday, May 2nd. Truist Financial lifted their target price on Molina Healthcare from $360.00 to $390.00 in a report on Thursday, April 7th. BMO Capital Markets boosted their price target on Molina Healthcare from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Monday, February 14th. Finally, StockNews.com assumed coverage on Molina Healthcare in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $332.38.

NYSE MOH opened at $312.59 on Wednesday. The business has a 50 day moving average price of $324.13 and a 200 day moving average price of $310.20. The company has a market capitalization of $18.35 billion, a P/E ratio of 26.60, a PEG ratio of 1.10 and a beta of 0.80. Molina Healthcare has a 1-year low of $239.20 and a 1-year high of $350.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.44 and a quick ratio of 1.44.

Molina Healthcare (NYSE:MOHGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $4.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.16. Molina Healthcare had a return on equity of 31.85% and a net margin of 2.37%. The firm had revenue of $7.77 billion during the quarter, compared to the consensus estimate of $7.54 billion. During the same period in the previous year, the firm posted $4.44 EPS. On average, research analysts expect that Molina Healthcare will post 17.14 earnings per share for the current fiscal year.

In other news, Director Steven J. Orlando sold 591 shares of the company’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $311.00, for a total value of $183,801.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeff D. Barlow sold 5,000 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $315.00, for a total transaction of $1,575,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,991 shares of company stock worth $1,883,261. Corporate insiders own 1.49% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Covestor Ltd bought a new position in shares of Molina Healthcare in the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC lifted its holdings in Molina Healthcare by 123.5% in the first quarter. Steward Partners Investment Advisory LLC now owns 76 shares of the company’s stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Prospera Financial Services Inc bought a new position in shares of Molina Healthcare during the first quarter valued at approximately $26,000. JFS Wealth Advisors LLC raised its position in shares of Molina Healthcare by 447.1% during the 1st quarter. JFS Wealth Advisors LLC now owns 93 shares of the company’s stock worth $31,000 after purchasing an additional 76 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of Molina Healthcare in the 3rd quarter worth approximately $39,000. 94.82% of the stock is currently owned by institutional investors.

Molina Healthcare Company Profile (Get Rating)

Molina Healthcare, Inc provides managed health care services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments, Medicaid, Medicare, Marketplace, and Other. As of December 31, 2021, the company served the company served approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 18 states.

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