Molina Healthcare has been experiencing mixed performance. Despite being labeled as one of the worst-performing healthcare stocks in 2024, it posted a 3.08% increase in stock price on December 3rd.
Q3 2024 earnings surpassed forecasts with the help of growing premiums, triggering a robust rally in share prices.
Royal London Asset Management and several other investment groups have purchased shares, indicating a bullish sentiment among hedge funds. The healthcare provider secured
$750 million of senior notes at a 6.250% interest rate, which may raise concerns about its debt levels. It is also making strategic growth moves, including the acquisition of
ConnectiCare and the proposed offering of $500 million of senior notes due 2033. Critics argue that Molina may have issues allocating its capital. Meanwhile,
EPS remained strong, following a third-quarter beat. However, the stock price target was lowered from $362 to $340 at Wells Fargo. Notably, Molina is among
Michael Burryβs top 10 stock picks. Some headline news indicates a potential weakness by insiders' selling shares.
Third quarter results, new contracts, and signing of top-level executives have marked the company's recent developments.
Molina Healthcare MOH News Analytics from Thu, 11 Apr 2024 07:00:00 GMT to Sat, 07 Dec 2024 10:44:34 GMT -
Rating 6
- Innovation 8
- Information 7
- Rumor 5
