Molina Healthcare (NYSE:MOH – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $6.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.02 by ($0.01), Briefing.com reports. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the previous year, the business posted $5.05 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.
Molina Healthcare Stock Up 17.5 %
Shares of MOH stock traded up $48.25 during trading hours on Thursday, reaching $323.25. The company had a trading volume of 2,769,887 shares, compared to its average volume of 520,628. The company has a market cap of $18.94 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58. 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 has a 12 month low of $272.69 and a 12 month high of $423.92. The business has a fifty day simple moving average of $335.72 and a 200-day simple moving average of $330.46.
Insider Buying and Selling
In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of Molina Healthcare 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 directly owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction dated 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 directly owns 9,473 shares of the company’s stock, valued at $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Orlando sold 1,000 shares of the business’s 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 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 disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
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.
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