Molina Healthcare (NYSE:MOH) Releases FY 2024 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 23.500- for the period, compared to the consensus estimate of 23.560. The company issued revenue guidance of $39.6 billion-$39.6 billion, compared to the consensus revenue estimate of $39.3 billion. Molina Healthcare also updated its FY24 guidance to at least $23.50 EPS.

Molina Healthcare Price Performance

Shares of Molina Healthcare stock traded down $17.11 during trading on Thursday, hitting $350.30. 663,229 shares of the stock traded hands, compared to its average volume of 397,419. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.57. The stock has a market cap of $20.52 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.02 and a beta of 0.47. The firm’s fifty day moving average is $392.45 and its 200-day moving average is $372.01. Molina Healthcare has a 52 week low of $266.35 and a 52 week high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, April 24th. The company reported $5.73 earnings per share for the quarter, beating the consensus estimate of $5.46 by $0.27. The company had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.45 billion. Molina Healthcare had a return on equity of 32.34% and a net margin of 3.20%. Molina Healthcare’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business posted $5.81 EPS. Research analysts expect that Molina Healthcare will post 23.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MOH. Truist Financial increased their target price on Molina Healthcare from $435.00 to $460.00 and gave the stock a buy rating in a research report on Tuesday, February 20th. Wells Fargo & Company reduced their price objective on Molina Healthcare from $440.00 to $410.00 and set an equal weight rating for the company in a research report on Monday, April 15th. Barclays reduced their price objective on Molina Healthcare from $437.00 to $430.00 and set an equal weight rating for the company in a research report on Thursday. Stephens reaffirmed an equal weight rating and set a $390.00 price objective on shares of Molina Healthcare in a research report on Thursday. Finally, Bank of America cut Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price target for the company. in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $396.09.

Insider Buying and Selling

In related news, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the sale, the director now directly owns 11,207 shares in the company, valued at $4,494,567.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Molina Healthcare news, Director Richard M. Schapiro sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total transaction of $401,050.00. Following the sale, the director now directly owns 11,207 shares in the company, valued at $4,494,567.35. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard M. Schapiro sold 711 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $384.06, for a total value of $273,066.66. Following the sale, the director now owns 12,207 shares in the company, valued at $4,688,220.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,711 shares of company stock worth $6,472,517. Corporate insiders own 1.10% of the company’s stock.

Molina Healthcare Company Profile

Molina Healthcare, Inc provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. It operates in four segments: Medicaid, Medicare, Marketplace, and Other. The company served in across 19 states. The company was founded in 1980 and is headquartered in Long Beach, California.