Molina Healthcare (NYSE:MOH) Price Target Increased to $392.00 by Analysts at JPMorgan Chase & Co.

Molina Healthcare (NYSE:MOH) had its price target hoisted by JPMorgan Chase & Co. from $367.00 to $392.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 9.22% from the stock’s current price.

A number of other analysts have also issued reports on MOH. Stephens restated an “equal weight” rating and set a $350.00 target price on shares of Molina Healthcare in a research report on Tuesday, October 3rd. Bank of America raised their price objective on Molina Healthcare from $340.00 to $350.00 in a report on Thursday, July 27th. StockNews.com raised Molina Healthcare from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $359.00 target price on shares of Molina Healthcare in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $348.45.

Molina Healthcare Price Performance

Shares of NYSE MOH traded down $6.43 during trading on Friday, reaching $358.92. The company had a trading volume of 73,472 shares, compared to its average volume of 465,840. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.61. Molina Healthcare has a twelve month low of $256.19 and a twelve month high of $369.50. The stock has a 50-day moving average price of $339.40 and a two-hundred day moving average price of $312.98. The stock has a market capitalization of $20.93 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.20 and a beta of 0.57.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, October 25th. The company reported $5.05 earnings per share for the quarter, beating the consensus estimate of $4.87 by $0.18. Molina Healthcare had a net margin of 2.80% and a return on equity of 34.85%. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.24 billion. During the same quarter in the previous year, the company posted $4.36 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Molina Healthcare will post 20.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Maurice Hebert sold 692 shares of Molina Healthcare stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $328.15, for a total value of $227,079.80. Following the transaction, the chief accounting officer now directly owns 8,528 shares of the company’s stock, valued at approximately $2,798,463.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Steven J. Orlando sold 1,134 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $325.96, for a total transaction of $369,638.64. Following the completion of the sale, the director now directly owns 19,299 shares of the company’s stock, valued at approximately $6,290,702.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Maurice Hebert sold 692 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $328.15, for a total value of $227,079.80. Following the completion of the sale, the chief accounting officer now owns 8,528 shares of the company’s stock, valued at $2,798,463.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Molina Healthcare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning lifted its position in shares of Molina Healthcare by 17.7% during the third quarter. Creative Planning now owns 5,784 shares of the company’s stock worth $1,897,000 after purchasing an additional 870 shares in the last quarter. Financial Gravity Asset Management Inc. lifted its holdings in Molina Healthcare by 638.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 2,223 shares of the company’s stock worth $729,000 after buying an additional 1,922 shares in the last quarter. First Foundation Advisors acquired a new stake in shares of Molina Healthcare during the third quarter valued at about $1,218,000. Ramirez Asset Management Inc. purchased a new stake in shares of Molina Healthcare during the third quarter worth about $298,000. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Molina Healthcare by 19.0% during the third quarter. Mercer Global Advisors Inc. ADV now owns 951 shares of the company’s stock worth $312,000 after acquiring an additional 152 shares during the last quarter. Hedge funds and other institutional investors own 98.11% of the company’s stock.

Molina Healthcare Company Profile

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.