Molina Healthcare (NYSE:MOH) Posts Earnings Results, Beats Expectations By $0.05 EPS

Molina Healthcare (NYSE:MOH) issued its quarterly earnings results on Wednesday. The company reported $6.01 EPS for the quarter, beating the consensus estimate of $5.96 by $0.05, Briefing.com reports. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The business had revenue of $10.34 billion during the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the prior year, the firm earned $5.05 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Price Performance

Shares of NYSE:MOH traded up $1.97 during midday trading on Friday, reaching $325.56. 1,579,517 shares of the company’s stock were exchanged, compared to its average volume of 525,746. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.57 and a current ratio of 1.57. The company’s 50 day simple moving average is $335.72 and its two-hundred day simple moving average is $330.46. Molina Healthcare has a 12 month low of $272.69 and a 12 month high of $423.92. The firm has a market capitalization of $19.08 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58.

Analyst Upgrades and Downgrades

Several analysts recently commented on MOH shares. 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. Wells Fargo & Company upped their price target on shares of Molina Healthcare from $315.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. StockNews.com raised Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. 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 research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Molina Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $367.00.

Insiders Place Their Bets

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the company’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 sale, the director now directly owns 18,025 shares in the company, valued at $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the business’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 directly owns 18,025 shares in the company, valued at $6,114,260.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Maurice Hebert sold 393 shares of the firm’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 transaction of $136,182.36. Following the sale, the chief accounting officer now directly 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 disclosure for this sale can be found here. Corporate 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.