Molina Healthcare (NYSE:MOH) Issues FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of at least $23.50 for the period, compared to the consensus EPS 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 Stock Performance

MOH traded up $4.19 on Wednesday, hitting $367.41. 459,748 shares of the company’s stock were exchanged, compared to its average volume of 393,888. The stock has a fifty day moving average of $393.09 and a two-hundred day moving average of $372.04. Molina Healthcare has a twelve month low of $266.35 and a twelve month high of $423.92. The firm has a market cap of $21.52 billion, a PE ratio of 19.50, a P/E/G ratio of 1.01 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. The business had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $8.35 billion. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. Molina Healthcare’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.10 EPS. On average, research analysts anticipate that Molina Healthcare will post 23.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MOH. Truist Financial increased their price target on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a buy rating in a research report on Tuesday, February 20th. Bank of America downgraded Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price target on the stock. in a research report on Thursday, March 28th. StockNews.com cut shares of Molina Healthcare from a strong-buy rating to a buy rating in a report on Thursday, February 8th. Cantor Fitzgerald reaffirmed an overweight rating and set a $406.00 price objective on shares of Molina Healthcare in a research note on Thursday, April 4th. Finally, Barclays started coverage on shares of Molina Healthcare in a research note on Wednesday, March 6th. They issued an equal weight rating and a $437.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and an average price target of $393.09.

Insider Buying and Selling

In related news, CFO Mark Lowell Keim sold 15,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $386.56, for a total transaction of $5,798,400.00. Following the completion of the sale, the chief financial officer now owns 36,531 shares in the company, valued at $14,121,423.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $386.56, for a total transaction of $5,798,400.00. Following the sale, the chief financial officer now owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard M. Schapiro sold 711 shares of the stock in a transaction dated 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 directly owns 12,207 shares in the company, valued at approximately $4,688,220.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,711 shares of company stock worth $6,472,517. 1.11% of the stock is owned by corporate insiders.

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.