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

Molina Healthcare (NYSE:MOH) announced its quarterly earnings data on Wednesday. The company reported $5.73 earnings per share for the quarter, topping the consensus estimate of $5.46 by $0.27, Briefing.com reports. Molina Healthcare had a return on equity of 30.99% and a net margin of 2.99%. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.45 billion. During the same quarter last year, the firm earned $5.81 EPS. Molina Healthcare’s revenue for the quarter was up 21.9% compared to the same quarter last year. Molina Healthcare updated its FY24 guidance to at least $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Price Performance

Molina Healthcare stock opened at $352.30 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.54 and a current ratio of 1.54. The firm has a market cap of $20.64 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.03 and a beta of 0.47. The business’s fifty day moving average is $392.45 and its two-hundred day moving average is $372.01. Molina Healthcare has a 52 week low of $266.35 and a 52 week high of $423.92.

Analyst Ratings Changes

Several analysts have recently weighed in on MOH shares. Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a report on Thursday, April 4th. Bank of America lowered Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price objective on the stock. in a report on Thursday, March 28th. StockNews.com lowered Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 8th. Truist Financial boosted their price target on Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $390.00 price target on shares of Molina Healthcare in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $396.09.

Insiders Place Their Bets

In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now owns 12,207 shares of the company’s stock, valued at $4,688,220.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now owns 12,207 shares of the company’s stock, valued at $4,688,220.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,207 shares in the company, valued at approximately $4,494,567.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,711 shares of company stock valued at $6,472,517. 1.10% of the stock is currently owned by corporate 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.