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

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

Molina Healthcare Stock Performance

NYSE MOH traded up $2.77 during trading on Thursday, hitting $370.18. 262,228 shares of the company’s stock traded hands, compared to its average volume of 393,394. The business has a 50 day moving average of $392.45 and a 200-day moving average of $372.01. Molina Healthcare has a 12-month low of $266.35 and a 12-month high of $423.92. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 19.66, a PEG ratio of 1.02 and a beta of 0.47. 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 other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the completion of the transaction, the director now owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Molina Healthcare news, Director Richard M. Schapiro sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total transaction of $401,050.00. Following the sale, the director now owns 11,207 shares in the company, valued at approximately $4,494,567.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard M. Schapiro sold 711 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now directly owns 12,207 shares of the company’s stock, valued at $4,688,220.42. The disclosure for this sale can be found here. Insiders have sold 16,711 shares of company stock worth $6,472,517 over the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays assumed coverage on 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. StockNews.com lowered Molina Healthcare from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 8th. Bank of America lowered Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price target for the company. in a research note on Thursday, March 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a report on Thursday, April 4th. Finally, Truist Financial lifted their target price on Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock 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.