Molina Healthcare (NYSE:MOH) Issues FY 2024 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 23.500- for the period. The company issued revenue guidance of -. Molina Healthcare also updated its FY24 guidance to $23.50 EPS.

Molina Healthcare Stock Performance

Molina Healthcare stock traded up $17.76 during trading on Friday, hitting $341.93. The stock had a trading volume of 690,581 shares, compared to its average volume of 480,777. Molina Healthcare has a 1 year low of $282.96 and a 1 year high of $423.92. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. The stock’s 50 day moving average is $307.20 and its two-hundred day moving average is $353.65. The stock has a market cap of $20.04 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping the consensus estimate of $5.73 by $0.13. The firm had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.75 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 29.17%. The business’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.65 earnings per share. As a group, analysts predict that Molina Healthcare will post 23.56 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Baird R W raised Molina Healthcare to a strong-buy rating in a research note on Thursday, May 30th. TD Cowen lowered their price objective on Molina Healthcare from $412.00 to $351.00 and set a buy rating for the company in a research report on Wednesday. Bank of America lowered Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price objective for the company. in a research report on Thursday, March 28th. JPMorgan Chase & Co. lowered their price objective on Molina Healthcare from $420.00 to $395.00 and set an overweight rating for the company in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company lowered their price objective on Molina Healthcare from $375.00 to $315.00 and set an equal weight rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $376.18.

Insider Buying and Selling

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