Molina Healthcare’s (MOH) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Molina Healthcare (NYSE:MOH) in a report released on Thursday, Benzinga reports. The brokerage currently has a $359.00 price objective on the stock.

MOH has been the topic of several other reports. JPMorgan Chase & Co. lowered their price target on Molina Healthcare from $348.00 to $341.00 in a report on Friday, July 7th. StockNews.com cut Molina Healthcare from a strong-buy rating to a buy rating in a report on Friday, August 25th. Morgan Stanley restated an overweight rating and issued a $365.00 price objective on shares of Molina Healthcare in a research note on Friday, July 14th. Truist Financial reduced their price objective on Molina Healthcare from $380.00 to $365.00 in a research note on Tuesday, June 20th. Finally, Bank of America upped their price objective on Molina Healthcare from $340.00 to $350.00 in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $351.31.

Molina Healthcare Price Performance

NYSE MOH opened at $327.60 on Thursday. The business’s fifty day moving average price is $312.37 and its 200-day moving average price is $293.22. The stock has a market capitalization of $19.10 billion, a price-to-earnings ratio of 20.76, a PEG ratio of 1.11 and a beta of 0.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.52 and a quick ratio of 1.52. Molina Healthcare has a 1-year low of $256.19 and a 1-year high of $374.00.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, July 26th. The company reported $5.65 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.60. The firm had revenue of $8.33 billion for the quarter, compared to analysts’ expectations of $8.32 billion. Molina Healthcare had a return on equity of 35.87% and a net margin of 2.81%. The company’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.55 EPS. On average, equities analysts predict that Molina Healthcare will post 20.78 earnings per share for the current year.

Insider Activity

In other news, CAO Maurice Hebert sold 692 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $328.15, for a total transaction of $227,079.80. Following the completion of the transaction, the chief accounting officer now owns 8,528 shares in the company, valued at $2,798,463.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Jeff D. Barlow sold 12,500 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $302.77, for a total value of $3,784,625.00. Following the completion of the transaction, the insider now owns 64,973 shares of the company’s stock, valued at approximately $19,671,875.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Maurice Hebert sold 692 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $328.15, for a total transaction of $227,079.80. Following the completion of the transaction, the chief accounting officer now directly owns 8,528 shares of the company’s stock, valued at approximately $2,798,463.20. The disclosure for this sale can be found here. Insiders sold a total of 17,938 shares of company stock worth $5,474,336 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors increased its position in shares of Molina Healthcare by 0.5% during the second quarter. Captrust Financial Advisors now owns 6,315 shares of the company’s stock worth $1,766,000 after purchasing an additional 33 shares in the last quarter. Brighton Jones LLC increased its position in shares of Molina Healthcare by 1.0% during the second quarter. Brighton Jones LLC now owns 3,302 shares of the company’s stock worth $995,000 after purchasing an additional 33 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Molina Healthcare by 0.4% during the first quarter. New York Life Investment Management LLC now owns 8,454 shares of the company’s stock worth $2,261,000 after purchasing an additional 34 shares in the last quarter. Financial Gravity Asset Management Inc. increased its position in shares of Molina Healthcare by 12.7% during the second quarter. Financial Gravity Asset Management Inc. now owns 301 shares of the company’s stock worth $12,106,000 after purchasing an additional 34 shares in the last quarter. Finally, EFG Asset Management Americas Corp. increased its position in shares of Molina Healthcare by 3.0% during the second quarter. EFG Asset Management Americas Corp. now owns 1,238 shares of the company’s stock worth $373,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 98.11% of the company’s stock.

Molina Healthcare Company Profile

Molina Healthcare, Inc provides managed healthcare 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. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.