FY2024 Earnings Estimate for Molina Healthcare, Inc. (NYSE:MOH) Issued By Zacks Research

Molina Healthcare, Inc. (NYSE:MOH) – Equities research analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Molina Healthcare in a note issued to investors on Wednesday, August 14th. Zacks Research analyst D. Chatterjee now expects that the company will post earnings of $23.64 per share for the year, up from their previous estimate of $23.53. The consensus estimate for Molina Healthcare’s current full-year earnings is $23.50 per share. Zacks Research also issued estimates for Molina Healthcare’s Q4 2024 earnings at $5.99 EPS, Q4 2025 earnings at $7.38 EPS and Q2 2026 earnings at $6.76 EPS.

Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, July 24th. The company reported $5.86 EPS for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The business had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same period in the previous year, the company posted $5.65 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis.

Several other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a report on Monday, July 29th. Robert W. Baird initiated coverage on shares of Molina Healthcare in a research report on Thursday, May 30th. They set an “outperform” rating and a $405.00 target price on the stock. Truist Financial decreased their price target on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating for the company in a report on Monday, July 15th. Jefferies Financial Group dropped their price objective on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $378.00.

Molina Healthcare Trading Up 0.7 %

NYSE:MOH opened at $348.50 on Monday. The firm has a 50 day moving average of $314.16 and a 200 day moving average of $350.02. 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 52 week low of $282.96 and a 52 week high of $423.92. The stock has a market capitalization of $20.42 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.20 and a beta of 0.58.

Insiders Place Their Bets

In other news, Director Steven J. Orlando sold 1,000 shares of the firm’s stock in a transaction that occurred 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 $6,114,260.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Steven J. Orlando sold 1,000 shares of the 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 completion of the sale, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the completion of the transaction, the chief accounting officer now directly owns 9,473 shares in the company, valued at $3,282,583.96. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MOH. International Assets Investment Management LLC boosted its stake in Molina Healthcare by 31,696.0% during the fourth quarter. International Assets Investment Management LLC now owns 7,949 shares of the company’s stock worth $2,872,000 after buying an additional 7,924 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Molina Healthcare in the fourth quarter valued at about $362,000. Louisiana State Employees Retirement System purchased a new stake in shares of Molina Healthcare in the fourth quarter valued at about $1,265,000. Mackenzie Financial Corp increased its position in Molina Healthcare by 80.2% during the fourth quarter. Mackenzie Financial Corp now owns 11,719 shares of the company’s stock worth $4,234,000 after purchasing an additional 5,216 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Molina Healthcare by 143.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,788 shares of the company’s stock valued at $7,872,000 after purchasing an additional 12,834 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.