Molina Healthcare (NYSE:MOH) Issues Quarterly Earnings Results

Molina Healthcare (NYSE:MOH) posted its quarterly earnings results on Wednesday. The company reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.46 by $0.27, Briefing.com reports. The business had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.45 billion. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The company’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $5.81 earnings per share. Molina Healthcare updated its FY24 guidance to at least $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Price Performance

Shares of NYSE MOH opened at $342.23 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.54. Molina Healthcare has a 1 year low of $266.35 and a 1 year high of $423.92. The company’s 50-day moving average is $391.53 and its 200 day moving average is $371.87. The stock has a market capitalization of $20.05 billion, a P/E ratio of 18.57, a P/E/G ratio of 0.99 and a beta of 0.47.

Insiders Place Their Bets

In other news, Director Richard M. Schapiro sold 711 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the completion of the transaction, the director now owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard M. Schapiro sold 711 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $384.06, for a total transaction of $273,066.66. Following the sale, the director now owns 12,207 shares in the company, valued at approximately $4,688,220.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $386.56, for a total transaction of $5,798,400.00. Following the completion of the transaction, the chief financial officer now owns 36,531 shares of the company’s stock, valued at $14,121,423.36. The disclosure for this sale can be found here. Insiders sold 16,711 shares of company stock worth $6,472,517 over the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MOH. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a report on Thursday, April 4th. Wells Fargo & Company dropped their price objective on Molina Healthcare from $440.00 to $410.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th. Stephens reaffirmed an “equal weight” rating and issued a $390.00 target price on shares of Molina Healthcare in a research note on Thursday. StockNews.com cut shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Truist Financial boosted their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $396.09.

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.