Molina Healthcare Inc. to Post Q3 2016 Earnings of $0.79 Per Share, Leerink Swann Forecasts (MOH)
Molina Healthcare Inc. (NYSE:MOH) – Equities researchers at Leerink Swann lowered their Q3 2016 earnings per share (EPS) estimates for Molina Healthcare in a research report issued on Monday. Leerink Swann analyst A. Gupte now expects that the brokerage will post earnings per share of $0.79 for the quarter, down from their prior forecast of $0.87. Leerink Swann has a “Buy” rating on the stock. Leerink Swann also issued estimates for Molina Healthcare’s Q4 2016 earnings at $0.91 EPS.
Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, July 27th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.18. Molina Healthcare had a net margin of 0.83% and a return on equity of 9.60%. The firm had revenue of $4.36 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 23.7% on a year-over-year basis.
Several other equities analysts also recently weighed in on MOH. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Molina Healthcare in a research note on Tuesday, June 28th. Zacks Investment Research raised shares of Molina Healthcare from a “sell” rating to a “hold” rating in a research note on Tuesday, July 5th. Jefferies Group reaffirmed a “buy” rating and set a $63.00 price target (down from $66.00) on shares of Molina Healthcare in a research note on Thursday, July 28th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $55.00 price target on shares of Molina Healthcare in a research note on Friday, July 29th. Finally, Goldman Sachs Group Inc. raised shares of Molina Healthcare from a “sell” rating to a “neutral” rating and raised their price target for the stock from $51.00 to $58.00 in a research note on Monday, September 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $62.80.
Shares of Molina Healthcare (NYSE:MOH) traded up 4.45% during midday trading on Tuesday, reaching $58.43. 143,709 shares of the company traded hands. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 25.29 and a beta of 1.53. Molina Healthcare has a 12 month low of $44.50 and a 12 month high of $70.51. The company’s 50 day moving average is $56.55 and its 200-day moving average is $54.49.
In related news, COO Terry Bayer sold 8,250 shares of Molina Healthcare stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $58.00, for a total value of $478,500.00. Following the completion of the sale, the chief operating officer now owns 176,834 shares in the company, valued at $10,256,372. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven J. Orlando sold 2,500 shares of Molina Healthcare stock in a transaction on Monday, August 8th. The stock was sold at an average price of $58.82, for a total transaction of $147,050.00. The disclosure for this sale can be found here. Insiders own 6.89% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC raised its stake in shares of Molina Healthcare by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,208,150 shares of the company’s stock worth $77,914,000 after buying an additional 159,572 shares during the period. Bank of Montreal Can acquired a new position in Molina Healthcare during the second quarter worth approximately $13,970,000. Eqis Capital Management Inc. increased its position in Molina Healthcare by 65.9% in the second quarter. Eqis Capital Management Inc. now owns 5,802 shares of the company’s stock worth $290,000 after buying an additional 2,305 shares in the last quarter. Victory Capital Management Inc. increased its position in Molina Healthcare by 120.9% in the second quarter. Victory Capital Management Inc. now owns 728,913 shares of the company’s stock worth $36,373,000 after buying an additional 398,897 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in Molina Healthcare by 9.0% in the first quarter. BlackRock Japan Co. Ltd now owns 1,848 shares of the company’s stock worth $119,000 after buying an additional 152 shares in the last quarter. Institutional investors and hedge funds own 87.49% of the company’s stock.
About Molina Healthcare
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. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.
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