Molina Healthcare (NYSE:MOH) Releases 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, compared to the consensus estimate of 23.510. The company issued revenue guidance of $38.0 billion-$38.0 billion, compared to the consensus revenue estimate of $39.8 billion. Molina Healthcare also updated its FY24 guidance to $23.50 EPS.

Molina Healthcare Stock Performance

Shares of NYSE MOH traded down $9.23 during trading hours on Wednesday, reaching $274.73. The stock had a trading volume of 1,660,072 shares, compared to its average volume of 509,641. The business’s fifty day moving average is $337.46 and its two-hundred day moving average is $330.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.15 and a beta of 0.58. Molina Healthcare has a twelve month low of $272.69 and a twelve month high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The business had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same period in the prior year, the company posted $5.65 earnings per share. Molina Healthcare’s revenue was up 18.7% on a year-over-year basis. As a group, research analysts expect that Molina Healthcare will post 23.5 EPS for the current year.

Analyst Upgrades and Downgrades

MOH has been the topic of a number of analyst reports. Stephens reiterated an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a research report on Thursday, July 25th. Jefferies Financial Group lowered their price target on 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 increased their target price on Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. decreased their target price on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, TD Cowen decreased their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.00.

Insider Activity

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the 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 transaction, the director now owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sale, the director now directly owns 18,025 shares in the company, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by 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.