Molina Healthcare Inc. to Post Q3 2016 Earnings of $0.79 Per Share, Leerink Swann Forecasts (MOH)
Molina Healthcare Inc. (NYSE:MOH) – Stock analysts at Leerink Swann lowered their Q3 2016 earnings estimates for Molina Healthcare in a research report issued on Monday. Leerink Swann analyst A. Gupte now forecasts that the brokerage will post earnings of $0.79 per share for the quarter, down from their prior forecast of $0.87. Leerink Swann has a “Buy” rating on the stock. Leerink Swann also issued estimates for Molina Healthcare’s Q4 2016 earnings at $0.91 EPS.
MOH has been the subject of several other research reports. Jefferies Group lifted their price objective on Molina Healthcare from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. Goldman Sachs Group Inc. raised Molina Healthcare from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $51.00 to $58.00 in a research note on Monday, September 19th. Zacks Investment Research raised Molina Healthcare from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, September 27th. Credit Suisse Group AG reissued a “hold” rating on shares of Molina Healthcare in a research note on Tuesday, June 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $55.00 price objective on shares of Molina Healthcare in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Molina Healthcare presently has an average rating of “Hold” and an average price target of $62.80.
Molina Healthcare (NYSE:MOH) traded up 4.45% during midday trading on Tuesday, hitting $58.43. The company’s stock had a trading volume of 143,709 shares. The stock has a 50 day moving average of $56.55 and a 200 day moving average of $54.49. Molina Healthcare has a 52-week low of $44.50 and a 52-week high of $70.51. The company has a market cap of $3.32 billion, a PE ratio of 25.29 and a beta of 1.53.
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Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.18. Molina Healthcare had a return on equity of 9.60% and a net margin of 0.83%. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the previous year, the company posted $0.72 EPS. The business’s revenue was up 23.7% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Japan Co. Ltd increased its position in shares of Molina Healthcare by 9.0% in the first quarter. BlackRock Japan Co. Ltd now owns 1,848 shares of the company’s stock worth $119,000 after buying an additional 152 shares in the last quarter. Advance Capital I Inc. purchased a new stake in Molina Healthcare during the second quarter valued at $215,000. Wright Investors Service Inc. purchased a new stake in Molina Healthcare during the second quarter valued at $224,000. Mount Lucas Management LP boosted its stake in Molina Healthcare by 10.3% in the first quarter. Mount Lucas Management LP now owns 4,555 shares of the company’s stock valued at $294,000 after buying an additional 427 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Molina Healthcare during the second quarter valued at $237,000. Institutional investors own 87.49% of the company’s stock.
In related news, Director Garrey Carruthers sold 1,600 shares of the business’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $55.46, for a total transaction of $88,736.00. Following the transaction, the director now owns 9,508 shares in the company, valued at approximately $527,313.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronna Romney sold 750 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $55.00, for a total value of $41,250.00. The disclosure for this sale can be found here. Corporate insiders own 6.89% of the company’s stock.
About Molina Healthcare
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.
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