Molina Healthcare (NYSE:MOH) Issues FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of at least $23.50 for the period, compared to the consensus EPS estimate of $23.57. The company issued revenue guidance of approx $38 billion, compared to the consensus revenue estimate of $39.31 billion. Molina Healthcare also updated its FY 2024 guidance to 23.500- EPS.

Analyst Ratings Changes

Several research firms have recently commented on MOH. Bank of America cut Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 target price for the company. in a research note on Thursday, March 28th. StockNews.com lowered Molina Healthcare from a strong-buy rating to a buy rating in a research report on Thursday, February 8th. Cantor Fitzgerald restated an overweight rating and set a $406.00 target price on shares of Molina Healthcare in a research report on Thursday, April 4th. Truist Financial lifted their target price on shares of Molina Healthcare from $435.00 to $460.00 and gave the stock a buy rating in a report on Tuesday, February 20th. Finally, Wells Fargo & Company lowered their price target on Molina Healthcare from $440.00 to $410.00 and set an equal weight rating for the company in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $396.73.

Molina Healthcare Stock Performance

Shares of NYSE MOH traded down $9.14 during midday trading on Thursday, hitting $358.27. 390,667 shares of the company’s stock were exchanged, compared to its average volume of 395,148. Molina Healthcare has a 12 month low of $266.35 and a 12 month high of $423.92. The company’s 50 day moving average price is $392.45 and its 200 day moving average price is $372.01. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $20.99 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.02 and a beta of 0.47.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, beating the consensus estimate of $5.46 by $0.27. The firm had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.45 billion. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $5.81 earnings per share. As a group, analysts predict that Molina Healthcare will post 23.62 earnings per share for the current fiscal year.

Insider Activity

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