Molina Healthcare Sees Large Volume Increase Following Analyst Upgrade (MOH)
Shares of Molina Healthcare (NYSE:MOH) saw unusually-high trading volume on Monday after Leerink Swann raised their price target on the stock from $40.00 to $45.00, Analyst RN reports. Approximately 891,885 shares were traded during mid-day trading, an increase of 57% from the previous session’s volume of 566,527 shares.The stock last traded at $44.93 and had previously closed at $44.58.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sterne Agee initiated coverage on shares of Molina Healthcare in a research note on Friday. They set a “buy” rating and a $69.00 price target on the stock. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Molina Healthcare from $35.00 to $40.00 in a research note on Thursday, May 15th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Molina Healthcare in a research note on Monday, May 5th. They now have a $41.00 price target on the stock. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $45.62.
The stock’s 50-day moving average is $43.41 and its 200-day moving average is $38.06. The company has a market cap of $2.069 billion and a price-to-earnings ratio of 75.30.
Molina Healthcare (NYSE:MOH) last released its earnings data on Thursday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.11. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. Analysts expect that Molina Healthcare will post $2.02 EPS for the current fiscal year.
Molina Healthcare, Inc provides medicaid-related solutions. The Company operates in two segments: Health Plans and Molina Medicaid Solutions.
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