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 NYSE MOH traded down $9.23 during trading on Wednesday, reaching $274.73. 1,660,072 shares of the stock traded hands, compared to its average volume of 509,641. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market capitalization 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. Molina Healthcare has a 52-week low of $272.69 and a 52-week high of $423.92. The company has a 50-day moving average of $337.46 and a 200-day moving average of $330.91.

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. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. The firm had revenue of $9.88 billion during the quarter, compared to analyst estimates of $9.75 billion. During the same quarter last year, the business earned $5.65 earnings per share. The company’s quarterly revenue was up 18.7% on a year-over-year basis. Analysts forecast that Molina Healthcare will post 23.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MOH has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft cut their target price 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. Jefferies Financial Group decreased their price target on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company raised their price objective on shares of Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. One investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $378.00.

Insider Activity

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare 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 completion of the sale, the director now owns 18,025 shares of the company’s stock, valued at $6,114,260.25. The trade was 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. In related news, CAO Maurice Hebert sold 393 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. This trade represents a 0.00 % decrease in their position. The transaction 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 business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction 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 $6,114,260.25. This represents a 0.00 % decrease in their ownership of the stock. 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.