Molina Healthcare Inc (MOH) has been under a strong bear grip, hence the stock is down -1.22% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.36% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.98% in the last 1 week, and is up 5.45% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Molina Healthcare Inc (NYSE:MOH): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $52.76 and $52.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $53.38. The buying momentum continued till the end and the stock did not give up its gains. It closed at $53.04, notching a gain of 0.44% for the day. The total traded volume was 1,165,179 . The stock had closed at $52.81 on the previous day.
The stock has recorded a 20-day Moving Average of 4.53% and the 50-Day Moving Average is 6.66%. Molina Healthcare, Inc. has dropped 18.48% during the last 3-month period . Year-to-Date the stock performance stands at -11.79%.
Molina Healthcare, Inc. provides health care to those receiving Government assistance. The Company offers Medicaid-related solutions for low-income families and individuals, and assists state agencies in their administration of the Medicaid program. The Company operates through two segments: Health Plans segment and Molina Medicaid Solutions segment. The Companys Health Plans segment consists of health plans in around 11 states, and includes its direct delivery business. The Companys direct delivery business consists primarily of the management of a hospital in southern California, and the operation of primary care clinics in several states in which the Company operates. The Companys Molina Medicaid Solutions segment provides business processing and information technology development, and administrative services to Medicaid agencies in Idaho, Louisiana, Maine, New Jersey, West Virginia, and the United States Virgin Islands, and drug rebate administration services in Florida.