Molina Healthcare (NYSE:MOH) Announces Earnings Results, Beats Expectations By $0.27 EPS

Molina Healthcare (NYSE:MOH) issued its quarterly earnings data on Wednesday. The company reported $5.73 earnings per share for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27, Briefing.com reports. The business had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.45 billion. Molina Healthcare had a return on equity of 32.34% and a net margin of 3.20%. Molina Healthcare’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.81 EPS. Molina Healthcare updated its FY24 guidance to at least $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Trading Down 0.5 %

Shares of NYSE:MOH traded down $2.00 on Thursday, reaching $365.41. 282,899 shares of the company traded hands, compared to its average volume of 393,636. The business’s 50-day simple moving average is $392.45 and its 200 day simple moving average is $372.01. Molina Healthcare has a 52 week low of $266.35 and a 52 week high of $423.92. The stock has a market capitalization of $21.41 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.02 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57.

Insider Activity

In related news, CFO Mark Lowell Keim sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the sale, the chief financial officer now directly owns 36,531 shares of the company’s stock, valued at $14,121,423.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the sale, the director now directly owns 11,207 shares of the company’s stock, valued at approximately $4,494,567.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mark Lowell Keim sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $386.56, for a total value of $5,798,400.00. Following the completion of the transaction, the chief financial officer now directly owns 36,531 shares in the company, valued at $14,121,423.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,711 shares of company stock valued at $6,472,517. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MOH shares. Bank of America lowered Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target on the stock. in a research report on Thursday, March 28th. Wells Fargo & Company reduced their price target on Molina Healthcare from $440.00 to $410.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 price objective on shares of Molina Healthcare in a research note on Thursday, April 4th. StockNews.com downgraded Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, Barclays started coverage on Molina Healthcare in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $437.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $393.09.

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.