Molina Healthcare (NYSE:MOH) Issues FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $23.50 for the period, compared to the consensus earnings per share estimate of $23.09.

Molina Healthcare Stock Performance

Shares of MOH traded up $1.68 during mid-day trading on Wednesday, hitting $288.58. The stock had a trading volume of 1,047,488 shares, compared to its average volume of 460,776. The firm has a market cap of $16.91 billion, a P/E ratio of 15.73, a PEG ratio of 0.89 and a beta of 0.58. The business has a fifty day moving average price of $308.75 and a 200-day moving average price of $354.31. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49. Molina Healthcare has a 52 week low of $282.96 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 (EPS) for the quarter, beating the consensus estimate of $5.46 by $0.27. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.45 billion. During the same period in the previous year, the company posted $5.81 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. On average, equities research analysts expect that Molina Healthcare will post 23.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MOH shares. Wells Fargo & Company decreased their price objective on Molina Healthcare from $375.00 to $315.00 and set an equal weight rating on the stock in a research note on Monday. Bank of America cut Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 target price for the company. in a report on Thursday, March 28th. Jefferies Financial Group dropped their target price on Molina Healthcare from $354.00 to $297.00 and set a hold rating for the company in a report on Wednesday. Cantor Fitzgerald reaffirmed an overweight rating and set a $406.00 price target on shares of Molina Healthcare in a research report on Tuesday. Finally, Robert W. Baird began coverage on Molina Healthcare in a research report on Thursday, May 30th. They set an outperform rating and a $405.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Molina Healthcare has a consensus rating of Moderate Buy and an average price target of $382.55.

Insider Transactions at Molina Healthcare

In other news, Director Ronna Romney sold 250 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the transaction, the director now owns 16,945 shares of the company’s stock, valued at approximately $5,816,710.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Molina Healthcare news, COO James Woys sold 10,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the sale, the chief operating officer now directly owns 53,613 shares in the company, valued at approximately $18,504,526.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronna Romney sold 250 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the transaction, the director now owns 16,945 shares in the company, valued at $5,816,710.15. The disclosure for this sale can be found here. 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.