Zacks Research Weighs in on Molina Healthcare, Inc.’s FY2024 Earnings (NYSE:MOH)

Molina Healthcare, Inc. (NYSE:MOH) – Investment analysts at Zacks Research raised their FY2024 EPS estimates for shares of Molina Healthcare in a research report issued to clients and investors on Wednesday, August 14th. Zacks Research analyst D. Chatterjee now forecasts that the company will earn $23.64 per share for the year, up from their prior forecast of $23.53. The consensus estimate for Molina Healthcare’s current full-year earnings is $23.50 per share. Zacks Research also issued estimates for Molina Healthcare’s Q4 2024 earnings at $5.99 EPS, Q4 2025 earnings at $7.38 EPS and Q2 2026 earnings at $6.76 EPS.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. The company had revenue of $9.88 billion during 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 28.09%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $5.65 earnings per share.

A number of other research analysts have also recently weighed in on MOH. Robert W. Baird started coverage on Molina Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $405.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. TD Cowen reduced their price target on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Baird R W raised shares of Molina Healthcare to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research note on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $378.00.

Molina Healthcare Stock Performance

NYSE MOH opened at $348.50 on Monday. The business has a 50 day moving average price of $314.16 and a 200 day moving average price of $350.02. The company has a market capitalization of $20.42 billion, a P/E ratio of 18.91, a PEG ratio of 1.20 and a beta of 0.58. Molina Healthcare has a 1-year low of $282.96 and a 1-year high of $423.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57.

Institutional Trading of Molina Healthcare

A number of institutional investors and hedge funds have recently bought and sold shares of the business. McIlrath & Eck LLC purchased a new stake in Molina Healthcare during the fourth quarter worth approximately $34,000. Innealta Capital LLC acquired a new stake in Molina Healthcare in the 2nd quarter valued at $36,000. Ashton Thomas Private Wealth LLC purchased a new position in Molina Healthcare in the second quarter valued at about $40,000. Principal Securities Inc. purchased a new position in Molina Healthcare in the fourth quarter valued at about $42,000. Finally, AM Squared Ltd acquired a new position in shares of Molina Healthcare during the second quarter worth about $59,000. Institutional investors and hedge funds own 98.50% of the company’s stock.

Insider Activity

In related news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.