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Fly News Breaks for February 6, 2018
MOH
Feb 6, 2018 | 09:32 EDT
Piper Jaffray analyst Sarah James notes Molina Healthcare this morning announced that it was invited to negotiate for Region 11, but not the remainder of the other seven counties that the company services. Currently, Molina services about 350,000 members in Florida, which the analyst estimate adds $1.06B-$1.48B in revenue and 19c-52c of earnings per share, including 59,000 in region 11. The analyst is surprised with this morning's news, but believes Molina will fight to have this decision overturned. James continues to believe in the company's turnaround story and would be buyers on any weakness today. The analyst has an Overweight rating on the stock. Molina in early trading is down 9% to $79.50.
News For MOH From the Last 2 Days
MOH
Mar 28, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
MOH
Mar 28, 2024 | 06:51 EDT
BofA downgraded Molina Healthcare (MOH) to Underperform from Neutral with a $439 price target. The firm, which is concerned that Molina and the Medicaid industry more broadly are likely to face rate pressure after a period of elevated margins, sees a less attractive risk/reward for Molina compared to other insurers the firm covers, the analyst tells investors. Molina is now trading roughly at parity with the firm's top pick in the space, UnitedHealth (UNH), compared to a 22% discount that had been seen over the last five years, helping to underscore the firm's view that "sentiment for Medicaid is nearing a top just at a time when Medicare is reaching a bottom," the analyst added.