Short Interest in Molina Healthcare, Inc. (NYSE:MOH) Decreases By 24.1%

Molina Healthcare, Inc. (NYSE:MOH - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 888,400 shares, a drop of 24.1% from the October 15th total of 1,170,000 shares. Based on an average daily volume of 622,700 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.6% of the shares of the company are short sold.

Molina Healthcare Price Performance

Shares of NYSE:MOH traded down $11.66 during trading on Friday, hitting $294.34. 694,809 shares of the stock were exchanged, compared to its average volume of 539,641. The company has a fifty day moving average price of $329.37 and a two-hundred day moving average price of $326.23. The company has a market cap of $16.84 billion, a PE ratio of 15.53, a P/E/G ratio of 1.06 and a beta of 0.59. Molina Healthcare has a 12-month low of $272.69 and a 12-month high of $423.92. The company has a current ratio of 1.54, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53.

Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $6.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.96 by $0.05. Molina Healthcare had a net margin of 2.92% and a return on equity of 27.88%. The company had revenue of $10.34 billion during the quarter, compared to analysts' expectations of $9.92 billion. During the same period in the previous year, the company earned $5.05 EPS. The business's quarterly revenue was up 21.0% compared to the same quarter last year. On average, analysts forecast that Molina Healthcare will post 23.45 EPS for the current year.

Hedge Funds Weigh In On Molina Healthcare

A number of institutional investors have recently added to or reduced their stakes in the company. Custom Index Systems LLC lifted its holdings in Molina Healthcare by 5.0% in the second quarter. Custom Index Systems LLC now owns 690 shares of the company's stock worth $205,000 after acquiring an additional 33 shares during the last quarter. WCM Investment Management LLC increased its holdings in shares of Molina Healthcare by 3.4% in the 3rd quarter. WCM Investment Management LLC now owns 1,080 shares of the company's stock worth $369,000 after acquiring an additional 36 shares during the period. Metis Global Partners LLC boosted its stake in Molina Healthcare by 1.4% during the 3rd quarter. Metis Global Partners LLC now owns 2,785 shares of the company's stock valued at $960,000 after purchasing an additional 39 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Molina Healthcare by 1.1% during the second quarter. AlphaMark Advisors LLC now owns 3,543 shares of the company's stock valued at $1,053,000 after purchasing an additional 40 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of Molina Healthcare by 3.3% in the third quarter. Caprock Group LLC now owns 1,460 shares of the company's stock valued at $503,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 98.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stephens restated an "equal weight" rating and set a $320.00 price target on shares of Molina Healthcare in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $406.00 price target on shares of Molina Healthcare in a research note on Thursday, October 24th. StockNews.com upgraded shares of Molina Healthcare from a "hold" rating to a "buy" rating in a report on Friday, October 18th. Jefferies Financial Group reduced their price target on shares of Molina Healthcare from $354.00 to $297.00 and set a "hold" rating for the company in a research note on Wednesday, July 24th. Finally, TD Cowen dropped their price objective on shares of Molina Healthcare from $412.00 to $351.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Molina Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $367.17.

About Molina Healthcare

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.

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