Molina Healthcare (NYSE:MOH) Releases Earnings Results, Beats Estimates By $0.05 EPS

Molina Healthcare (NYSE:MOH) issued its quarterly earnings results on Wednesday. The company reported $6.01 EPS for the quarter, topping analysts’ consensus estimates of $5.96 by $0.05, Briefing.com reports. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The company had revenue of $10.34 billion for the quarter, compared to analysts’ expectations of $9.92 billion. During the same quarter last year, the business earned $5.05 earnings per share. Molina Healthcare’s 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 Stock Performance

Shares of MOH stock opened at $325.56 on Friday. The business’s 50-day moving average price is $335.23 and its 200-day moving average price is $330.07. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 0.99 and a beta of 0.58. Molina Healthcare has a 12 month low of $272.69 and a 12 month high of $423.92.

Insider Buying and Selling

In related news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction that occurred 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 transaction, the director now directly 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 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 Molina Healthcare stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 18,025 shares in the company, valued at approximately $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. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MOH. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group decreased their target price 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. Stephens reiterated an “equal weight” rating and issued a $320.00 target price on shares of Molina Healthcare in a research report on Thursday, July 25th. TD Cowen decreased their target price on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. decreased their target price on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $367.00.

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.