Molina Healthcare (NYSE:MOH) Releases 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 $23.51.

Molina Healthcare Stock Performance

NYSE:MOH traded down $6.95 during trading hours on Wednesday, reaching $277.01. The stock had a trading volume of 1,180,690 shares, compared to its average volume of 507,307. Molina Healthcare has a 12-month low of $276.47 and a 12-month high of $423.92. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a 50 day simple moving average of $337.46 and a 200 day simple moving average of $330.91. The stock has a market cap of $16.23 billion, a P/E ratio of 15.41, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The firm had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same quarter last year, the business earned $5.65 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. On average, research analysts forecast that Molina Healthcare will post 23.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MOH shares. Jefferies Financial Group lowered their target price on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a research note on Tuesday, October 1st. Stephens restated an “equal weight” rating and issued a $320.00 target price on shares of Molina Healthcare in a research note on Thursday, July 25th. TD Cowen decreased their price target on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.00.

Insider Activity at Molina Healthcare

In other news, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total transaction of $339,210.00. Following the completion of the transaction, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 9,473 shares in the company, valued at $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the sale, the director now owns 18,025 shares in the company, valued at $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.