Molina Healthcare (NYSE:MOH) Releases Earnings Results, Beats Estimates By $0.13 EPS

Molina Healthcare (NYSE:MOH) issued its earnings results on Wednesday. The company reported $5.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13, Briefing.com reports. The business had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.75 billion. Molina Healthcare had a return on equity of 29.17% and a net margin of 2.84%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the firm posted $5.65 EPS. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Price Performance

NYSE MOH traded up $8.80 during trading on Friday, reaching $332.97. 169,976 shares of the company traded hands, compared to its average volume of 476,765. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 1.49. The stock’s 50 day moving average price is $307.61 and its two-hundred day moving average price is $353.85. The company has a market cap of $19.51 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 0.89 and a beta of 0.58. Molina Healthcare has a 1-year low of $282.96 and a 1-year high of $423.92.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, COO James Woys sold 10,000 shares of Molina Healthcare stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total transaction of $3,451,500.00. Following the sale, the chief operating officer now directly owns 53,613 shares of the company’s stock, valued at $18,504,526.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO James Woys sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total value of $3,451,500.00. Following the transaction, the chief operating officer now directly owns 53,613 shares of the company’s stock, valued at approximately $18,504,526.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronna Romney sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total value of $85,817.50. Following the completion of the transaction, the director now directly owns 16,945 shares in the company, valued at $5,816,710.15. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stephens reissued an “equal weight” rating and set a $320.00 price objective on shares of Molina Healthcare in a research report on Thursday. Bank of America lowered Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 target price on the stock. in a report on Thursday, March 28th. Barclays cut their target price on Molina Healthcare from $437.00 to $430.00 and set an “equal weight” rating on the stock in a report on Thursday, April 25th. Baird R W upgraded Molina Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Robert W. Baird started coverage on Molina Healthcare in a report on Thursday, May 30th. They set an “outperform” rating and a $405.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $376.18.

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.