Molina Healthcare (NYSE:MOH) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Molina Healthcare (NYSE:MOH) announced its quarterly earnings data on Wednesday. The company reported $6.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.96 by $0.05, Briefing.com reports. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm had revenue of $10.34 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same period in the prior year, the business earned $5.05 EPS. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Performance

MOH stock opened at $323.25 on Friday. The firm has a 50 day moving average of $335.72 and a two-hundred day moving average of $330.46. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare has a 12 month low of $272.69 and a 12 month high of $423.92. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.99 and a beta of 0.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on MOH shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a research report on Thursday. Jefferies Financial Group lowered their price objective on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Wells Fargo & Company boosted 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 report on Monday, August 5th. Robert W. Baird lowered their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, TD Cowen lowered their price objective on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $371.83.

Insider Transactions at Molina Healthcare

In other news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction on 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 approximately $3,282,583.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Steven J. Orlando sold 1,000 shares of the business’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 completion of the sale, the director now directly owns 18,025 shares in the company, valued at approximately $6,114,260.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The trade was 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 owned by corporate 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.