Truist Financial Corp reduced its position in shares of Molina Healthcare, Inc. (NYSE:MOH – Get Rating) by 11.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 21,572 shares of the company’s stock after selling 2,688 shares during the quarter. Truist Financial Corp’s holdings in Molina Healthcare were worth $7,197,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in MOH. Covestor Ltd bought a new stake in shares of Molina Healthcare during the fourth quarter worth about $25,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Molina Healthcare during the fourth quarter worth about $41,000. PrairieView Partners LLC bought a new stake in shares of Molina Healthcare during the fourth quarter worth about $52,000. Sageworth Trust Co of South Dakota bought a new stake in shares of Molina Healthcare during the fourth quarter worth about $57,000. Finally, UMB Bank N A MO bought a new stake in shares of Molina Healthcare during the fourth quarter worth about $72,000. Institutional investors own 94.82% of the company’s stock.
A number of research firms recently commented on MOH. StockNews.com began coverage on Molina Healthcare in a research note on Thursday, March 31st. They issued a “strong-buy” rating on the stock. Truist Financial lifted their price objective on Molina Healthcare from $360.00 to $390.00 in a research note on Thursday, April 7th. Wells Fargo & Company cut their price objective on Molina Healthcare from $308.00 to $301.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 25th. Loop Capital began coverage on Molina Healthcare in a research note on Thursday, June 16th. They issued a “hold” rating and a $310.00 price objective on the stock. Finally, Bank of America lowered Molina Healthcare from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $355.00 to $335.00 in a research note on Thursday, May 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Molina Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $341.00.
In other news, Director Ronna Romney sold 200 shares of the business’s stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $307.94, for a total transaction of $61,588.00. Following the completion of the sale, the director now owns 16,657 shares in the company, valued at $5,129,356.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.
Shares of MOH opened at $285.39 on Wednesday. Molina Healthcare, Inc. has a 52-week low of $243.32 and a 52-week high of $350.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.44 and a current ratio of 1.44. The business’s 50 day moving average price is $286.44 and its two-hundred day moving average price is $304.48. The firm has a market cap of $16.75 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 1.01 and a beta of 0.80.
Molina Healthcare (NYSE:MOH – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $4.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.16. Molina Healthcare had a return on equity of 31.85% and a net margin of 2.37%. The firm had revenue of $7.77 billion for the quarter, compared to analyst estimates of $7.54 billion. During the same period in the previous year, the firm earned $4.44 earnings per share. Research analysts predict that Molina Healthcare, Inc. will post 17.18 EPS for the current fiscal year.
About Molina Healthcare (Get Rating)
Molina Healthcare, Inc provides managed health care 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. As of December 31, 2021, the company served the company served approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs in 18 states.
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