Molina Healthcare (NYSE:MOH) Raised to Overweight at Wells Fargo & Company

Molina Healthcare (NYSE:MOH) was upgraded by stock analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Wednesday, MarketBeat reports. The firm presently has a $372.00 target price on the stock, up from their previous target price of $295.00. Wells Fargo & Company‘s target price points to a potential upside of 14.83% from the stock’s previous close.

Other research analysts have also issued reports about the company. Mizuho dropped their price objective on Molina Healthcare from $382.00 to $376.00 and set an “outperform” rating for the company in a research note on Monday. Truist Financial dropped their price objective on Molina Healthcare from $370.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. StockNews.com cut Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 8th. UBS Group decreased their target price on Molina Healthcare from $374.00 to $325.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Finally, Stephens restated an “equal weight” rating and set a $345.00 target price on shares of Molina Healthcare in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Molina Healthcare presently has a consensus rating of “Moderate Buy” and an average target price of $355.69.

Molina Healthcare Stock Performance

Shares of NYSE MOH opened at $323.96 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $293.99 and a 200 day simple moving average of $311.96. Molina Healthcare has a one year low of $262.32 and a one year high of $423.92. The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.06 and a beta of 0.54.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data 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 return on equity of 28.13% and a net margin of 2.90%. Sell-side analysts expect that Molina Healthcare will post 24.4 EPS for the current year.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $301.33, for a total value of $301,330.00. Following the transaction, the director now owns 17,375 shares of the company’s stock, valued at approximately $5,235,608.75. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Molina Healthcare

Several hedge funds have recently added to or reduced their stakes in MOH. Colonial Trust Co SC raised its position in shares of Molina Healthcare by 930.0% during the fourth quarter. Colonial Trust Co SC now owns 103 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the period. True Wealth Design LLC raised its position in shares of Molina Healthcare by 2,500.0% during the third quarter. True Wealth Design LLC now owns 104 shares of the company’s stock worth $36,000 after purchasing an additional 100 shares during the period. Versant Capital Management Inc raised its position in shares of Molina Healthcare by 83.1% during the fourth quarter. Versant Capital Management Inc now owns 163 shares of the company’s stock worth $47,000 after purchasing an additional 74 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Molina Healthcare during the fourth quarter worth about $52,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Molina Healthcare during the third quarter worth about $62,000. Institutional investors and hedge funds 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.