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 (EPS) guidance of 23.500- for the period, compared to the consensus 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.

Molina Healthcare Stock Performance

Shares of MOH traded down $9.23 during trading hours on Wednesday, reaching $274.73. 1,660,072 shares of the company’s stock traded hands, compared to its average volume of 509,641. The business’s fifty day simple moving average is $337.46 and its two-hundred day simple moving average is $330.91. The firm has a market capitalization of $16.10 billion, a price-to-earnings ratio of 15.41, a P/E/G ratio of 1.15 and a beta of 0.58. Molina Healthcare has a twelve month low of $272.69 and a twelve month high of $423.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13. The firm 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 was up 18.7% compared to the same quarter last year. During the same period in the previous year, the company earned $5.65 earnings per share. Analysts predict that Molina Healthcare will post 23.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

MOH has been the topic of a number of research analyst reports. StockNews.com raised Molina Healthcare from a “hold” rating to a “buy” rating in a report on Friday, October 18th. TD Cowen lowered their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Wells Fargo & Company increased their price target on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Jefferies Financial Group decreased their price target on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 price target on shares of Molina Healthcare in a research report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $378.00.

Insiders Place Their Bets

In related news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the sale, the director now directly owns 18,025 shares of the company’s stock, 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. Corporate insiders own 1.10% of the company’s stock.

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.