Molina Healthcare (NYSE:MOH) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Molina Healthcare (NYSE:MOH) announced its quarterly earnings data on Wednesday. The company reported $6.01 earnings per share for the quarter, beating analysts’ consensus estimates of $5.96 by $0.05, Briefing.com reports. The business had revenue of $10.34 billion during the quarter, compared to the consensus estimate of $9.92 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.05 EPS. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Up 17.5 %

MOH stock opened at $323.25 on Friday. Molina Healthcare has a 12 month low of $272.69 and a 12 month high of $423.92. The firm has a market cap of $18.94 billion, a PE ratio of 17.71, a P/E/G ratio of 0.99 and a beta of 0.58. The firm has a 50 day simple moving average of $335.72 and a 200 day simple moving average of $330.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MOH shares. TD Cowen lowered their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. cut 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. Truist Financial lowered their target price on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a report on Thursday. Finally, Robert W. Baird reduced their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday. One equities 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 stock. According to MarketBeat, Molina Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $371.83.

Insider Activity at Molina Healthcare

In related news, 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 value of $136,182.36. Following the transaction, the chief accounting officer now directly owns 9,473 shares in the company, valued at $3,282,583.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CAO Maurice Hebert sold 393 shares of the stock in a transaction on Thursday, August 15th. The stock was 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 in the company, valued at $3,282,583.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of the business’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 owns 18,025 shares in the company, valued at approximately $6,114,260.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.