Molina Healthcare (NYSE:MOH) Updates 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 also updated its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Price Performance

Shares of MOH traded down $9.23 during midday trading on Wednesday, reaching $274.73. The stock had a trading volume of 1,660,072 shares, compared to its average volume of 509,641. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $16.10 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 company’s 50-day moving average is $337.46 and its 200 day moving average is $330.91. Molina Healthcare has a 12-month low of $272.69 and a 12-month high of $423.92.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter in the prior year, the company earned $5.65 EPS. The firm’s revenue was up 18.7% on a year-over-year basis. On average, equities analysts predict that Molina Healthcare will post 23.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MOH. Wells Fargo & Company upped their price objective on shares of Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. TD Cowen lowered 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. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft decreased their target price on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. Finally, Jefferies Financial Group cut their price target 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Molina Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $378.00.

Insider Activity at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now directly owns 18,025 shares in the company, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction on Thursday, August 15th. The stock was 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 owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Orlando sold 1,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

About Molina Healthcare

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.