Molina Healthcare (NYSE:MOH) Releases FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $23.50 for the period, compared to the consensus estimate of $23.51. Molina Healthcare also updated its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Price Performance

Molina Healthcare stock traded up $52.43 during midday trading on Thursday, reaching $327.43. The company’s stock had a trading volume of 1,869,302 shares, compared to its average volume of 515,698. Molina Healthcare has a 52 week low of $272.69 and a 52 week high of $423.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $336.17 and a 200-day moving average price of $330.51. The stock has a market cap of $19.19 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last released 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. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter in the previous year, the business posted $5.65 earnings per share. The business’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, sell-side analysts predict that Molina Healthcare will post 23.5 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on MOH shares. Stephens restated an “equal weight” rating and set a $320.00 price target on shares of Molina Healthcare in a report on Thursday, July 25th. JPMorgan Chase & Co. reduced their price target on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft reduced their price target on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Jefferies Financial Group reduced their price target on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Molina Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $371.83.

Insider Buying and Selling

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the transaction, the chief accounting officer now directly owns 9,473 shares in the company, 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. 1.10% of the stock is owned by 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.