Molina Healthcare (NYSE:MOH) Releases FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $23.50 for the period, compared to the consensus estimate of $23.51. Molina Healthcare also updated its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Up 19.1 %

Shares of NYSE MOH traded up $52.43 during trading hours on Thursday, hitting $327.43. The company had a trading volume of 1,869,302 shares, compared to its average volume of 515,698. The stock has a market capitalization of $19.19 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare has a 1-year low of $272.69 and a 1-year high of $423.92. The firm’s 50 day moving average is $336.17 and its 200-day moving average is $330.51.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings data on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, beating the consensus estimate of $5.73 by $0.13. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same quarter in the prior year, the firm posted $5.65 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, analysts expect that Molina Healthcare will post 23.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MOH shares. Jefferies Financial Group cut their price target 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 raised their price target on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Stephens reaffirmed an “equal weight” rating and set a $320.00 price target on shares of Molina Healthcare in a report on Thursday, July 25th. Truist Financial cut their price target on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Robert W. Baird cut their price target on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Molina Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $371.83.

Insider Buying and Selling

In related news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was 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 in the company, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 9,473 shares in the company, valued at approximately $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the completion of the transaction, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company 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.