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Molina (MOH) Soars 6.3%: Is Further Upside Left in the Stock?
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Molina (MOH - Free Report) shares rallied 6.3% in the last trading session to close at $229.74. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.4% gain over the past four weeks.
Molina retained its rally for the third straight day, driven by strength in its government-sponsored healthcare model, strong presence across 21 states, diversified Medicaid, Medicare, and Marketplace offerings, proven success in winning and retaining state contracts, disciplined cost management, extensive provider network.
Additionally, the stock may have benefited on June 26 as investors rotated into defensive, high-quality stocks amid ongoing economic uncertainty and growing expectations that interest rates will remain elevated for an extended period. As investors sold AI-related and other high-growth technology stocks to realize their gains, they redirected their money into more defensive companies, such as healthcare stocks.
This provider of Medicaid-related services is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of -75%. Revenues are expected to be $10.88 billion, down 4.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Molina, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MOH going forward to see if this recent jump can turn into more strength down the road.
Molina belongs to the Zacks Medical - HMOs industry. Another stock from the same industry, Select Medical , closed the last trading session 0.3% lower at $16.5. Over the past month, SEM has returned 0.2%.
Select Medical's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. Compared to the company's year-ago EPS, this represents a change of -9.4%. Select Medical currently boasts a Zacks Rank of #4 (Sell).
View the Zacks #1 Rank List
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Molina (MOH) Soars 6.3%: Is Further Upside Left in the Stock?
Molina (MOH - Free Report) shares rallied 6.3% in the last trading session to close at $229.74. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 21.4% gain over the past four weeks.
Molina retained its rally for the third straight day, driven by strength in its government-sponsored healthcare model, strong presence across 21 states, diversified Medicaid, Medicare, and Marketplace offerings, proven success in winning and retaining state contracts, disciplined cost management, extensive provider network.
Additionally, the stock may have benefited on June 26 as investors rotated into defensive, high-quality stocks amid ongoing economic uncertainty and growing expectations that interest rates will remain elevated for an extended period. As investors sold AI-related and other high-growth technology stocks to realize their gains, they redirected their money into more defensive companies, such as healthcare stocks.
This provider of Medicaid-related services is expected to post quarterly earnings of $1.37 per share in its upcoming report, which represents a year-over-year change of -75%. Revenues are expected to be $10.88 billion, down 4.8% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Molina, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MOH going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Molina belongs to the Zacks Medical - HMOs industry. Another stock from the same industry, Select Medical , closed the last trading session 0.3% lower at $16.5. Over the past month, SEM has returned 0.2%.
Select Medical's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.29. Compared to the company's year-ago EPS, this represents a change of -9.4%. Select Medical currently boasts a Zacks Rank of #4 (Sell).