Molina Healthcare (NYSE:MOH) Updates FY24 Earnings Guidance

by · The Markets Daily

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

Molina Healthcare Trading Up 3.7 %

Molina Healthcare stock traded up $11.92 during mid-day trading on Friday, hitting $335.51. The stock had a trading volume of 810,635 shares, compared to its average volume of 522,032. The stock has a market capitalization of $19.66 billion, a PE ratio of 18.65, a P/E/G ratio of 0.99 and a beta of 0.58. Molina Healthcare has a 12 month low of $272.69 and a 12 month 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 stock has a 50-day simple moving average of $335.72 and a two-hundred day simple moving average of $330.46.

Molina Healthcare (NYSE:MOH – Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $6.01 earnings per share for the quarter, topping analysts’ consensus estimates of $5.96 by $0.05. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The business had revenue of $10.34 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same period in the previous year, the firm posted $5.05 earnings per share. Molina Healthcare’s revenue for the quarter was up 21.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Molina Healthcare will post 23.5 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MOH shares. Wells Fargo & Company increased their target price on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Stephens reaffirmed an “equal weight” rating and issued a $320.00 target price on shares of Molina Healthcare in a research note on Thursday, July 25th. Truist Financial reduced their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, StockNews.com upgraded shares of Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $371.83.

View Our Latest Research Report on Molina Healthcare

Insider Activity at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare 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 sale, the director now owns 18,025 shares of the company’s stock, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their position. 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 firm’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 completion of the transaction, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Maurice Hebert sold 393 shares of the firm’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 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 disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

About Molina Healthcare

(Get Free Report)

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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