Molina Healthcare (NYSE:MOH – Free Report) had its target price raised by Cantor Fitzgerald from $374.00 to $406.00 in a report published on Friday morning, Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Molina Healthcare’s FY2024 earnings at $23.62 EPS.
A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Molina Healthcare from $367.00 to $392.00 and gave the stock an overweight rating in a report on Friday, November 17th. UBS Group lifted their target price on shares of Molina Healthcare from $350.00 to $380.00 and gave the stock a neutral rating in a research report on Thursday, December 21st. Finally, StockNews.com cut shares of Molina Healthcare from a strong-buy rating to a buy rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $357.50.
Molina Healthcare Stock Performance
Molina Healthcare (NYSE:MOH – Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The company had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the previous year, the firm posted $4.10 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that Molina Healthcare will post 23.55 EPS for the current fiscal year.
Insider Buying and Selling at Molina Healthcare
In related news, Director Ronna Romney sold 335 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $358.00, for a total transaction of $119,930.00. Following the sale, the director now owns 16,907 shares of the company’s stock, valued at $6,052,706. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Molina Healthcare by 18.4% in the first quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock worth $2,151,448,000 after buying an additional 1,001,372 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Molina Healthcare by 2.4% in the second quarter. BlackRock Inc. now owns 4,865,464 shares of the company’s stock worth $1,465,672,000 after buying an additional 113,511 shares in the last quarter. Capital World Investors lifted its stake in shares of Molina Healthcare by 1.2% in the second quarter. Capital World Investors now owns 4,352,122 shares of the company’s stock worth $1,311,033,000 after buying an additional 53,139 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Molina Healthcare by 8.3% in the third quarter. Wellington Management Group LLP now owns 3,395,040 shares of the company’s stock worth $1,113,200,000 after buying an additional 259,474 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Molina Healthcare by 4.1% in the second quarter. State Street Corp now owns 2,517,706 shares of the company’s stock worth $758,434,000 after buying an additional 99,603 shares in the last quarter. Institutional investors own 98.11% 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.
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