Molina Healthcare (NYSE:MOH) Updates 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 Trading Up 17.5 %

Shares of NYSE MOH traded up $48.25 during trading on Thursday, reaching $323.25. The stock had a trading volume of 2,769,887 shares, compared to its average volume of 520,628. 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 has a market cap of $18.94 billion, a P/E ratio of 18.00, a PEG ratio of 1.15 and a beta of 0.58. Molina Healthcare has a fifty-two week low of $272.69 and a fifty-two week high of $423.92. The business’s 50-day moving average price is $336.17 and its 200-day moving average price is $330.51.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MOH shares. TD Cowen reduced their target price on shares of Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Robert W. Baird reduced their price objective on Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating on the stock in a research note on Thursday. Jefferies Financial Group decreased their target price on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a report on Wednesday, July 24th. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 price target on shares of Molina Healthcare in a report on Thursday. Finally, Wells Fargo & Company lifted their price objective on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $371.83.

Insider Activity at Molina Healthcare

In related news, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Maurice Hebert sold 393 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total value of $136,182.36. Following the completion of the sale, the chief accounting officer now owns 9,473 shares in the company, valued at $3,282,583.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction 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 disclosure for this sale can be found here. 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.