Molina Healthcare (NYSE:MOH) Upgraded by Wells Fargo & Company to “Overweight” Rating

Wells Fargo & Company upgraded shares of Molina Healthcare (NYSE:MOH) from an equal weight rating to an overweight rating in a research report sent to investors on Wednesday, MarketBeat reports. The brokerage currently has $372.00 price target on the stock, up from their prior price target of $295.00.

Several other equities analysts also recently commented on the company. Barclays dropped their price objective on Molina Healthcare from $372.00 to $339.00 and set an “equal weight” rating on the stock in a research note on Friday, February 7th. StockNews.com downgraded Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 8th. Truist Financial dropped their price objective on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. Stephens reiterated an “equal weight” rating and issued a $345.00 price objective on shares of Molina Healthcare in a research note on Thursday, February 6th. Finally, Mizuho dropped their price objective on Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $355.69.

Molina Healthcare Stock Performance

MOH stock opened at $312.05 on Wednesday. The firm has a market cap of $17.32 billion, a PE ratio of 15.27, a P/E/G ratio of 1.06 and a beta of 0.54. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $293.65 and a 200-day moving average of $311.96. Molina Healthcare has a 12-month low of $262.32 and a 12-month high of $423.92.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, February 5th. The company reported $5.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.74 by ($0.69). Molina Healthcare had a net margin of 2.90% and a return on equity of 28.13%. As a group, sell-side analysts expect that Molina Healthcare will post 24.4 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $301.33, for a total value of $301,330.00. Following the sale, the director now owns 17,375 shares in the company, valued at approximately $5,235,608.75. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Molina Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Sector Pension Investment Board raised its position in shares of Molina Healthcare by 13.5% in the third quarter. Public Sector Pension Investment Board now owns 2,527 shares of the company’s stock worth $871,000 after buying an additional 300 shares in the last quarter. Tributary Capital Management LLC increased its stake in Molina Healthcare by 76.1% in the fourth quarter. Tributary Capital Management LLC now owns 4,190 shares of the company’s stock valued at $1,219,000 after acquiring an additional 1,811 shares during the last quarter. Everence Capital Management Inc. bought a new position in Molina Healthcare in the fourth quarter valued at $544,000. SYM FINANCIAL Corp bought a new position in Molina Healthcare in the fourth quarter valued at $249,000. Finally, Oddo BHF Asset Management Sas bought a new position in Molina Healthcare in the third quarter valued at $2,947,000. Hedge funds and other institutional investors own 98.50% of the company’s stock.

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.