Molina Healthcare (NYSE:MOH) Announces Quarterly Earnings Results

Molina Healthcare (NYSE:MOH) announced its quarterly earnings results on Wednesday. The company reported $6.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.02 by ($0.01), Briefing.com reports. The firm had revenue of $10.34 billion for the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.05 EPS. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Up 17.5 %

Shares of Molina Healthcare stock traded up $48.25 during trading hours on Thursday, reaching $323.25. 2,769,887 shares of the company were exchanged, compared to its average volume of 520,628. The firm has a market cap of $18.94 billion, a PE ratio of 17.54, a PEG ratio of 1.15 and a beta of 0.58. The stock’s fifty day moving average is $335.72 and its 200 day moving average is $330.46. Molina Healthcare has a 1 year low of $272.69 and a 1 year 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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their target price 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. Robert W. Baird reduced their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a report on Thursday. StockNews.com raised shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. TD Cowen dropped their price target on shares of 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, Wells Fargo & Company upped their price objective on shares of Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.83.

Insider Activity at Molina Healthcare

In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value of $136,182.36. Following the sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at $3,282,583.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the transaction, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. The trade was a 0.00 % decrease in their position. The transaction 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 stock in a transaction that occurred on 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 sale, the director now directly owns 18,025 shares in the company, valued at approximately $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.