Molina Healthcare (NYSE:MOH) Issues FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $23.50 for the period, compared to the consensus EPS estimate of $23.51.

Molina Healthcare Stock Performance

Molina Healthcare stock traded down $6.95 during midday trading on Wednesday, reaching $277.01. 1,180,690 shares of the company traded hands, compared to its average volume of 507,307. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. Molina Healthcare has a 12 month low of $276.47 and a 12 month high of $423.92. The firm has a market capitalization of $16.23 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58. The business has a 50 day moving average of $337.46 and a two-hundred day moving average of $330.91.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. The company had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. Molina Healthcare’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.65 earnings per share. As a group, research analysts predict that Molina Healthcare will post 23.5 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MOH shares. Truist Financial cut their target price on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a research report on Tuesday, October 1st. TD Cowen reduced their price target on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.00.

Insider Transactions at Molina Healthcare

In related news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.