Molina Healthcare (NYSE:MOH – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13, Briefing.com reports. The business had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a return on equity of 29.17% and a net margin of 2.84%. The company’s revenue was up 18.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.65 earnings per share. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.
Molina Healthcare Trading Up 2.7 %
Shares of NYSE MOH traded up $8.80 during mid-day trading on Friday, reaching $332.97. 169,976 shares of the company’s stock were exchanged, compared to its average volume of 476,765. The firm has a market capitalization of $19.51 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 0.89 and a beta of 0.58. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 1.49. Molina Healthcare has a 52-week low of $282.96 and a 52-week high of $423.92. The company’s 50-day moving average is $307.61 and its 200-day moving average is $353.85.
Insider Transactions at Molina Healthcare
In related news, COO James Woys sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the transaction, the chief operating officer now owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO James Woys sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the transaction, the chief operating officer now owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronna Romney sold 250 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the sale, the director now directly owns 16,945 shares in the company, valued at approximately $5,816,710.15. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on MOH
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.
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