Molina Healthcare (NYSE:MOH) Issues Quarterly Earnings Results

Molina Healthcare (NYSE:MOH) posted its quarterly earnings results on Wednesday. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10, FiscalAI reports. Molina Healthcare had a negative net margin of 0.02% and a positive return on equity of 3.73%. The business had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $10.86 billion.

Molina Healthcare Trading Down 2.2%

MOH traded down $4.93 during trading on Wednesday, hitting $214.79. 1,172,663 shares of the stock traded hands, compared to its average volume of 1,283,433. The firm has a market capitalization of $11.21 billion, a P/E ratio of -1,193.21, a price-to-earnings-growth ratio of 30.14 and a beta of 0.78. Molina Healthcare has a 12-month low of $121.06 and a 12-month high of $244.89. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a 50-day moving average of $200.31 and a 200 day moving average of $194.98.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MOH. Wall Street Zen downgraded Molina Healthcare from a “hold” rating to a “sell” rating in a report on Sunday, October 4th. Wells Fargo & Company dropped their target price on Molina Healthcare from $235.00 to $220.00 and set an “equal weight” rating for the company in a report on Tuesday, July 28th. Sanford C. Bernstein set a $286.00 target price on Molina Healthcare in a report on Monday, July 13th. Truist Financial reduced their price target on Molina Healthcare from $250.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 24th. Finally, Weiss Ratings cut Molina Healthcare from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, October 6th. Three investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $202.44.

About Molina Healthcare

Molina Healthcare, Inc is a managed-care company that provides health insurance and related services primarily through government-sponsored programs. Its offerings include Medicaid, Medicare, Medicare-Medicaid dual-eligible plans and health plans sold through government marketplaces under the Affordable Care Act.

The company’s services generally include medical care coordination, behavioral health support, pharmacy benefits and, depending on the plan and state, dental and vision benefits.