Molina Healthcare (NYSE:MOH – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $6.01 EPS for the quarter, topping the consensus estimate of $5.96 by $0.05, Briefing.com reports. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The company had revenue of $10.34 billion during the quarter, compared to analysts’ expectations of $9.92 billion. During the same quarter in the previous year, the company earned $5.05 EPS. Molina Healthcare’s revenue 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 Up 0.6 %
Shares of Molina Healthcare stock traded up $1.97 during trading on Friday, reaching $325.56. The stock had a trading volume of 1,579,517 shares, compared to its average volume of 525,746. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 0.99 and a beta of 0.58. The stock has a fifty day moving average price of $335.72 and a two-hundred day moving average price of $330.46. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare has a 52 week low of $272.69 and a 52 week high of $423.92.
Insiders Place Their Bets
In related news, CAO Maurice Hebert sold 393 shares of the stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction on 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 owns 18,025 shares in the company, valued at approximately $6,114,260.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report 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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