Molina Healthcare (NYSE:MOH) Reaches New 12-Month Low – Here’s What Happened

Molina Healthcare, Inc. (NYSE:MOH) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $282.45 and last traded at $282.86, with a volume of 374071 shares trading hands. The stock had previously closed at $286.60.

Analysts Set New Price Targets

Several brokerages recently weighed in on MOH. Robert W. Baird cut their target price on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company boosted their price target on Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Truist Financial lowered their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a report on Monday, July 15th. Stephens reiterated an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a report on Thursday, July 25th. Finally, TD Cowen reduced their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $371.83.

Molina Healthcare Stock Performance

The company has a fifty day moving average price of $336.17 and a two-hundred day moving average price of $330.51. The firm has a market cap of $18.46 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The company had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same period in the prior year, the company earned $5.65 EPS. Molina Healthcare’s revenue was up 18.7% on a year-over-year basis. As a group, equities research analysts expect that Molina Healthcare, Inc. will post 23.5 EPS for the current year.

Insiders Place Their Bets

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares in the company, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Several hedge funds have recently bought and sold shares of MOH. Swedbank AB bought a new stake in shares of Molina Healthcare during the 1st quarter worth $69,320,000. Jupiter Asset Management Ltd. boosted its holdings in Molina Healthcare by 434.6% during the second quarter. Jupiter Asset Management Ltd. now owns 185,606 shares of the company’s stock valued at $55,181,000 after acquiring an additional 150,890 shares during the period. AQR Capital Management LLC boosted its holdings in Molina Healthcare by 36.2% during the second quarter. AQR Capital Management LLC now owns 463,537 shares of the company’s stock valued at $137,810,000 after acquiring an additional 123,121 shares during the period. Renaissance Technologies LLC increased its stake in shares of Molina Healthcare by 13.3% in the second quarter. Renaissance Technologies LLC now owns 949,691 shares of the company’s stock worth $282,343,000 after purchasing an additional 111,154 shares during the period. Finally, Boston Partners increased its stake in shares of Molina Healthcare by 14.8% in the first quarter. Boston Partners now owns 798,950 shares of the company’s stock worth $328,101,000 after purchasing an additional 103,245 shares during the period. 98.50% of the stock is owned by hedge funds and other institutional investors.

About Molina Healthcare

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.