Molina Healthcare, Inc. (NYSE:MOH) – Piper Jaffray Companies reduced their Q2 2020 earnings per share (EPS) estimates for Molina Healthcare in a note issued to investors on Friday, May 31st, Zacks Investment Research reports. Piper Jaffray Companies analyst S. James now forecasts that the company will post earnings per share of $2.90 for the quarter, down from their prior forecast of $2.92. Piper Jaffray Companies also issued estimates for Molina Healthcare’s Q4 2020 earnings at $2.40 EPS and FY2020 earnings at $11.33 EPS.
MOH has been the topic of several other reports. Cowen began coverage on shares of Molina Healthcare in a research report on Thursday, February 28th. They issued a “market perform” rating on the stock. Bank of America reiterated an “underperform” rating and issued a $132.00 price objective (up from $129.00) on shares of Molina Healthcare in a research report on Tuesday, April 30th. Barclays dropped their price target on shares of Molina Healthcare from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 17th. BMO Capital Markets upgraded shares of Molina Healthcare from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $154.00 to $200.00 in a research report on Monday, June 3rd. Finally, Wells Fargo & Co upgraded shares of Molina Healthcare from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $160.92.
NYSE:MOH traded down $7.56 during mid-day trading on Monday, hitting $137.79. The stock had a trading volume of 916,656 shares, compared to its average volume of 839,141. The stock has a market capitalization of $9.15 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37. The stock’s 50 day moving average is $139.80. Molina Healthcare has a 52 week low of $96.74 and a 52 week high of $159.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.57 and a quick ratio of 1.57.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Monday, April 29th. The company reported $3.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.41 by $0.63. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.07 billion. Molina Healthcare had a net margin of 4.35% and a return on equity of 49.21%. Molina Healthcare’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.26 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc increased its position in shares of Molina Healthcare by 14.0% in the third quarter. Vanguard Group Inc now owns 5,773,626 shares of the company’s stock worth $858,538,000 after acquiring an additional 709,776 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Molina Healthcare by 15,114.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,861,453 shares of the company’s stock worth $25,000 after acquiring an additional 2,842,645 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Molina Healthcare by 14.6% in the fourth quarter. Acadian Asset Management LLC now owns 1,153,036 shares of the company’s stock worth $134,010,000 after acquiring an additional 146,951 shares in the last quarter. Iridian Asset Management LLC CT increased its position in shares of Molina Healthcare by 7.7% in the first quarter. Iridian Asset Management LLC CT now owns 1,139,103 shares of the company’s stock worth $161,707,000 after acquiring an additional 81,120 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Molina Healthcare in the fourth quarter worth approximately $78,437,000.
In other news, Director Garrey Carruthers sold 1,300 shares of Molina Healthcare stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $152.75, for a total value of $198,575.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $126.30, for a total transaction of $126,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,304 shares of company stock worth $945,495 over the last 90 days. 0.77% of the stock is owned by insiders.
Molina Healthcare Company Profile
Molina Healthcare, Inc provides Medicaid-related solutions to meet the health care needs of low-income families and individuals; and to assist state agencies in their administration of the Medicaid program in the United States. It operates through three segments: Health Plans, Molina Medicaid Solutions, and Other.