Molina Healthcare (NYSE:MOH) Releases FY 2024 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 23.500- for the period, compared to the consensus earnings per share estimate of 23.510. The company issued revenue guidance of $38.0 billion-$38.0 billion, compared to the consensus revenue estimate of $39.8 billion. Molina Healthcare also updated its FY24 guidance to $23.50 EPS.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MOH. Jefferies Financial Group decreased their price objective on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Wells Fargo & Company lifted their price objective on Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Stephens reissued an “equal weight” rating and set a $320.00 target price on shares of Molina Healthcare in a research report on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a research report on Tuesday, October 1st. Finally, Truist Financial decreased their price objective on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $378.00.

Molina Healthcare Stock Down 3.3 %

MOH stock traded down $9.23 during trading on Wednesday, reaching $274.73. 1,660,072 shares of the stock were exchanged, compared to its average volume of 509,641. The firm’s 50 day moving average is $337.46 and its 200 day moving average is $330.91. The firm has a market cap of $16.10 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare has a twelve month low of $272.69 and a twelve month high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13. The company had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. Molina Healthcare’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.65 earnings per share. As a group, research analysts forecast that Molina Healthcare will post 23.5 EPS for the current year.

Insider Buying and Selling at Molina Healthcare

In related news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Maurice Hebert sold 393 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $339,210.00. Following the transaction, the director now owns 18,025 shares in the company, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.