Molina Healthcare Inc (NYSE:MOH)’s share price dropped 17.9% during trading on Thursday following a dissappointing earnings announcement. The stock traded as low as $48.55 and last traded at $49.18, with a volume of 12,835,262 shares changing hands. The stock had previously closed at $59.89.

The company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by $2.29. The firm earned $4.46 billion during the quarter, compared to analyst estimates of $4.55 billion. Molina Healthcare had a net margin of 0.76% and a return on equity of 9.38%.

MOH has been the subject of a number of analyst reports. Credit Suisse Group lowered shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $63.00 to $47.00 in a research report on Friday, November 11th. Zacks Investment Research raised shares of Molina Healthcare from a “sell” rating to a “hold” rating in a research report on Wednesday, November 16th. Goldman Sachs Group, Inc. (The) raised shares of Molina Healthcare from a “neutral” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Tuesday, December 13th. Jefferies Group LLC lowered shares of Molina Healthcare from a “buy” rating to a “hold” rating and set a $59.00 price objective for the company. in a research report on Thursday, December 15th. Finally, Piper Jaffray Companies initiated coverage on shares of Molina Healthcare in a research report on Tuesday, January 3rd. They issued an “overweight” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $61.89.

In related news, Director Charles Z. Fedak sold 4,875 shares of the business’s stock in a transaction that occurred on Wednesday, November 30th. The shares were sold at an average price of $53.06, for a total value of $258,667.50. Following the completion of the sale, the director now directly owns 28,096 shares in the company, valued at $1,490,773.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.89% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama increased its stake in Molina Healthcare by 0.7% in the second quarter. Retirement Systems of Alabama now owns 53,283 shares of the company’s stock worth $2,659,000 after buying an additional 383 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Molina Healthcare by 27.3% in the second quarter. Wedge Capital Management L L P NC now owns 16,287 shares of the company’s stock worth $813,000 after buying an additional 3,493 shares during the last quarter. Wright Investors Service Inc. bought a new stake in Molina Healthcare during the second quarter worth about $224,000. Commonwealth Equity Services Inc increased its stake in Molina Healthcare by 0.3% in the second quarter. Commonwealth Equity Services Inc now owns 383,393 shares of the company’s stock worth $19,131,000 after buying an additional 991 shares during the last quarter. Finally, Scout Investments Inc. increased its stake in Molina Healthcare by 135.5% in the second quarter. Scout Investments Inc. now owns 355,636 shares of the company’s stock worth $17,746,000 after buying an additional 204,615 shares during the last quarter. Hedge funds and other institutional investors own 90.72% of the company’s stock.

The stock’s 50 day moving average price is $57.49 and its 200-day moving average price is $56.00. The company has a market capitalization of $2.79 billion, a PE ratio of 21.51 and a beta of 0.96.

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About Molina Healthcare

Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other. Its Health Plans segment consists of health plans in approximately 10 states and the Commonwealth of Puerto Rico, and its direct delivery business.

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