The Molina Healthcare Inc. (MOH) Releases Earnings Results, Beats Estimates By $0.09 EPS

The Molina Healthcare Inc. (MOH) Releases  Earnings Results, Beats Estimates By $0.09 EPS

Molina Healthcare Inc. (NYSE:MOH) issued its quarterly earnings data on Thursday. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.09. Molina Healthcare had a return on equity of 9.52% and a net margin of 0.76%. The business earned $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the firm earned $0.89 EPS. Molina Healthcare’s quarterly revenue was up 24.6% compared to the same quarter last year.

Shares of Molina Healthcare (NYSE:MOH) opened at 54.59 on Monday. The company has a 50-day moving average price of $57.28 and a 200-day moving average price of $54.29. Molina Healthcare has a 1-year low of $44.50 and a 1-year high of $67.87. The company has a market cap of $2.98 billion, a PE ratio of 23.88 and a beta of 1.54.

Several brokerages recently issued reports on MOH. Cantor Fitzgerald reiterated a “hold” rating and issued a $55.00 price objective on shares of Molina Healthcare in a research report on Friday, July 29th. Leerink Swann reaffirmed a “buy” rating on shares of Molina Healthcare in a research report on Thursday, July 28th. Zacks Investment Research raised Molina Healthcare from a “sell” rating to a “hold” rating in a research report on Tuesday, July 5th. Goldman Sachs Group Inc. raised Molina Healthcare from a “sell” rating to a “neutral” rating and upped their price target for the stock from $51.00 to $58.00 in a research report on Monday, September 19th. Finally, Jefferies Group upped their price target on Molina Healthcare from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. One equities 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 stock. Molina Healthcare presently has a consensus rating of “Hold” and a consensus price target of $62.80.

In related news, CFO John C. Molina sold 25,014 shares of Molina Healthcare stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $60.00, for a total transaction of $1,500,840.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph W. Cpa White sold 6,676 shares of Molina Healthcare stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $58.48, for a total value of $390,412.48. The disclosure for this sale can be found here. Insiders own 6.89% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MOH. Capital World Investors boosted its position in shares of Molina Healthcare by 25.1% in the second quarter. Capital World Investors now owns 5,431,000 shares of the company’s stock valued at $271,007,000 after buying an additional 1,090,370 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Molina Healthcare by 19.1% in the second quarter. Alliancebernstein L.P. now owns 1,889,503 shares of the company’s stock valued at $94,286,000 after buying an additional 302,851 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Molina Healthcare by 1.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,321,011 shares of the company’s stock valued at $85,192,000 after buying an additional 22,548 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Molina Healthcare by 4.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,241,394 shares of the company’s stock valued at $61,945,000 after buying an additional 54,312 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Molina Healthcare by 15.2% in the first quarter. Renaissance Technologies LLC now owns 1,208,150 shares of the company’s stock valued at $77,914,000 after buying an additional 159,572 shares during the last quarter. 87.49% of the stock is currently owned by institutional investors.

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