Molina Healthcare (NYSE:MOH) Releases Earnings Results, Beats Expectations By $0.27 EPS

Molina Healthcare (NYSE:MOH) released its quarterly earnings data on Wednesday. The company reported $5.73 earnings per share for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27, Briefing.com reports. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The business had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.45 billion. During the same quarter last year, the company earned $5.81 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Molina Healthcare updated its FY24 guidance to at least $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Price Performance

Shares of NYSE MOH traded down $2.00 during midday trading on Thursday, reaching $365.41. 282,899 shares of the company traded hands, compared to its average volume of 393,636. The firm has a market cap of $21.41 billion, a PE ratio of 19.66, a PEG ratio of 1.02 and a beta of 0.47. The stock’s 50-day simple moving average is $392.45 and its 200-day simple moving average is $372.01. Molina Healthcare has a 12 month low of $266.35 and a 12 month high of $423.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.54 and a current ratio of 1.54.

Insider Buying and Selling at Molina Healthcare

In related news, CFO Mark Lowell Keim sold 15,000 shares of Molina Healthcare stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the completion of the transaction, the chief financial officer now directly owns 36,531 shares of the company’s stock, valued at $14,121,423.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the completion of the transaction, the director now directly owns 11,207 shares in the company, valued at approximately $4,494,567.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Lowell Keim sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $386.56, for a total value of $5,798,400.00. Following the completion of the transaction, the chief financial officer now owns 36,531 shares of the company’s stock, valued at $14,121,423.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,711 shares of company stock valued at $6,472,517. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MOH. Barclays began coverage on shares of Molina Healthcare in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $437.00 target price for the company. Bank of America lowered shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 target price for the company. in a research report on Thursday, March 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research report on Thursday, April 4th. Wells Fargo & Company reduced their price objective on shares of Molina Healthcare from $440.00 to $410.00 and set an “equal weight” rating for the company in a research report on Monday, April 15th. Finally, StockNews.com lowered shares of Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Molina Healthcare has an average rating of “Hold” and a consensus target price of $393.09.

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.