Molina Healthcare (NYSE:MOH) Issues FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of at least $23.50 for the period, compared to the consensus estimate of $23.57. The company issued revenue guidance of approx $38 billion, compared to the consensus revenue estimate of $39.31 billion. Molina Healthcare also updated its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Performance

Shares of MOH traded down $9.14 during midday trading on Thursday, reaching $358.27. 390,667 shares of the stock were exchanged, compared to its average volume of 395,148. Molina Healthcare has a twelve month low of $266.35 and a twelve month high of $423.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market capitalization of $20.99 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.02 and a beta of 0.47. The business’s 50-day moving average price is $392.45 and its 200 day moving average price is $372.01.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $5.73 earnings per share for the quarter, beating analysts’ consensus estimates of $5.46 by $0.27. The company had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.45 billion. Molina Healthcare had a return on equity of 32.34% and a net margin of 3.20%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.81 earnings per share. On average, sell-side analysts expect that Molina Healthcare will post 23.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MOH. Stephens reiterated an equal weight rating and set a $390.00 target price on shares of Molina Healthcare in a research note on Thursday. Wells Fargo & Company cut their price target on Molina Healthcare from $440.00 to $410.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Bank of America lowered shares of Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price objective on the stock. in a research report on Thursday, March 28th. StockNews.com downgraded shares of Molina Healthcare from a strong-buy rating to a buy rating in a research report on Thursday, February 8th. Finally, Barclays initiated coverage on shares of Molina Healthcare in a report on Wednesday, March 6th. They issued an equal weight rating and a $437.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $396.73.

Insider Activity

In related news, Director Richard M. Schapiro sold 711 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the sale, the director now owns 12,207 shares in the company, valued at approximately $4,688,220.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $384.06, for a total transaction of $273,066.66. Following the completion of the transaction, the director now directly owns 12,207 shares in the company, valued at approximately $4,688,220.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard M. Schapiro sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the completion of the sale, the director now directly owns 11,207 shares in the company, valued at approximately $4,494,567.35. The disclosure for this sale can be found here. In the last three months, insiders sold 16,711 shares of company stock worth $6,472,517. Company 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.