Molina Healthcare Inc. (MOH) Rating Lowered to Underperform at Credit Suisse Group AG
Molina Healthcare Inc. (NYSE:MOH) was downgraded by equities research analysts at Credit Suisse Group AG from a “neutral” rating to an “underperform” rating in a research report issued on Friday. They presently have a $47.00 target price on the stock, down from their previous target price of $63.00. Credit Suisse Group AG’s price objective points to a potential downside of 5.87% from the company’s previous close.
MOH has been the topic of several other research reports. Zacks Investment Research downgraded Molina Healthcare from a “buy” rating to a “hold” rating in a report on Monday, October 3rd. Cantor Fitzgerald reiterated a “hold” rating and issued a $55.00 price objective on shares of Molina Healthcare in a report on Friday, July 29th. Jefferies Group lifted their price objective on Molina Healthcare from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, September 13th. Goldman Sachs Group Inc. upgraded Molina Healthcare from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $51.00 to $58.00 in a report on Monday, September 19th. Finally, Leerink Swann reiterated a “buy” rating on shares of Molina Healthcare in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $61.70.
Shares of Molina Healthcare (NYSE:MOH) opened at 49.93 on Friday. Molina Healthcare has a 12 month low of $44.50 and a 12 month high of $67.87. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 21.84 and a beta of 1.19. The company’s 50 day moving average price is $56.40 and its 200 day moving average price is $53.62.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Thursday, October 27th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.09. Molina Healthcare had a return on equity of 9.38% and a net margin of 0.76%. The firm earned $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue was up 24.6% compared to the same quarter last year. On average, equities analysts expect that Molina Healthcare will post $2.79 EPS for the current fiscal year.
In other Molina Healthcare news, COO Terry Bayer sold 7,825 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $60.00, for a total transaction of $469,500.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO John C. Molina sold 25,014 shares of the company’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $60.00, for a total value of $1,500,840.00. The disclosure for this sale can be found here. Company insiders own 6.89% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Orinda Asset Management LLC boosted its stake in shares of Molina Healthcare by 45.8% in the third quarter. Orinda Asset Management LLC now owns 3,426 shares of the company’s stock worth $200,000 after buying an additional 1,077 shares in the last quarter. Advance Capital I Inc. bought a new stake in shares of Molina Healthcare during the second quarter worth approximately $215,000. Wright Investors Service Inc. bought a new stake in shares of Molina Healthcare during the second quarter worth approximately $224,000. Gotham Asset Management LLC bought a new stake in shares of Molina Healthcare during the third quarter worth approximately $226,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Molina Healthcare during the second quarter worth approximately $237,000. Hedge funds and other institutional investors own 88.53% of the company’s stock.
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. 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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