Molina Healthcare Inc (MOH) Shares Down 5.9%
Molina Healthcare Inc (NYSE:MOH) was down 5.9% on Tuesday . The company traded as low as $61.18 and last traded at $62.12. Approximately 2,020,252 shares traded hands during mid-day trading, an increase of 102% from the average daily volume of 1,001,160 shares. The stock had previously closed at $66.00.
A number of equities research analysts have recently weighed in on MOH shares. Stifel Nicolaus lowered Molina Healthcare from a “hold” rating to a “sell” rating and boosted their target price for the company from $47.00 to $60.00 in a research note on Wednesday, May 31st. ValuEngine raised Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Morgan Stanley started coverage on Molina Healthcare in a research note on Tuesday, June 6th. They issued an “underweight” rating and a $65.00 target price for the company. Jefferies Group LLC reissued a “hold” rating and issued a $61.00 target price on shares of Molina Healthcare in a research note on Thursday, June 8th. Finally, Zacks Investment Research lowered Molina Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. Molina Healthcare presently has an average rating of “Hold” and a consensus target price of $62.39.
The firm’s market capitalization is $3.55 billion. The company’s 50-day moving average price is $62.22 and its 200-day moving average price is $60.55.
Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.87). Molina Healthcare had a negative net margin of 1.07% and a positive return on equity of 16.10%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same quarter last year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that Molina Healthcare Inc will post ($2.96) earnings per share for the current fiscal year.
In other Molina Healthcare news, Director John C. Molina sold 25,295 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $59.33, for a total transaction of $1,500,752.35. Following the completion of the transaction, the director now owns 585,859 shares in the company, valued at $34,759,014.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director J Mario Md Molina sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $68.58, for a total value of $1,028,700.00. The disclosure for this sale can be found here. Insiders have sold 314,323 shares of company stock valued at $20,373,701 in the last 90 days. Company insiders own 6.20% of the company’s stock.
Several large investors have recently made changes to their positions in MOH. Point72 Asset Management L.P. boosted its position in shares of Molina Healthcare by 1,821.5% during the first quarter. Point72 Asset Management L.P. now owns 599,500 shares of the company’s stock valued at $27,337,000 after buying an additional 568,300 shares during the period. Acadian Asset Management LLC raised its stake in shares of Molina Healthcare by 6,812.6% during the second quarter. Acadian Asset Management LLC now owns 415,587 shares of the company’s stock valued at $28,748,000 after acquiring an additional 409,575 shares in the last quarter. Redmile Group LLC raised its stake in shares of Molina Healthcare by 42.7% during the first quarter. Redmile Group LLC now owns 1,149,727 shares of the company’s stock valued at $52,428,000 after acquiring an additional 344,181 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Molina Healthcare during the second quarter valued at approximately $323,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Molina Healthcare by 12.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,488,977 shares of the company’s stock valued at $113,498,000 after acquiring an additional 282,144 shares in the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.
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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, which includes its Pathways Health and Community Support LLC (Pathways) business.
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