Molina Healthcare's (NYSE:MOH) stocks and capital allocation raised discussions. The healthcare provider recently closed the $750 Million offer of 6.250% Senior Notes due in 2033, and raised $750M at 6.250% interest rate. Jennison Associates and Intech Investment Management decreased and increased their stock holdings in Molina respectively. Richard Schapiro, an insider sold shares of the company. Despite the market volatilities, Molina's third-quarter profit outperformed estimates due to higher premiums, causing stocks to soar 18%. However, Wells Fargo lowered its price target. For future growth, Molina launched a $500M Senior Notes offering. Notwithstanding fluctuations in the stock behavior, hedge funds remain bullish. After third-quarter earnings, the healthcare giant secured a Michigan Contract for a Dual Eligible Benefit Program and invested $1.25 million to improve Ohioans' health outcomes. Acquisitions and grants were also in the pipeline, including purchasing ConnectiCare and awarding a $25,000 grant to Playworks Michigan. The healthcare provider focuses on low-income populations and plans to expand its operations and services. Despite tricky times ahead, Molina's Q2 earnings and Medicaid premiums beat estimates affirming favorable prospects. The giant enters into a productive phase as it hosts an Investor Day Conference in 2024 with plans for a future private offering worth $500M.
Molina Healthcare MOH News Analytics from Thu, 11 Apr 2024 07:00:00 GMT to Sat, 23 Nov 2024 13:51:09 GMT -
Rating 5
- Innovation 3
- Information 9
- Rumor 6
