Molina Healthcare (NYSE:MOH – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $5.73 earnings per share for the quarter, beating analysts’ consensus estimates of $5.46 by $0.27, Briefing.com reports. Molina Healthcare had a return on equity of 32.34% and a net margin of 3.20%. The business had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.45 billion. During the same quarter in the previous year, the company posted $5.81 earnings per share. Molina Healthcare’s revenue for the quarter was up 21.9% compared to the same quarter last year. Molina Healthcare updated its FY24 guidance to at least $23.50 EPS and its FY 2024 guidance to 23.500- EPS.
Molina Healthcare Stock Performance
Shares of Molina Healthcare stock traded up $2.77 during trading on Thursday, reaching $370.18. The company’s stock had a trading volume of 262,228 shares, compared to its average volume of 393,394. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.57. The firm has a market cap of $21.69 billion, a PE ratio of 19.66, a P/E/G ratio of 1.02 and a beta of 0.47. Molina Healthcare has a 52 week low of $266.35 and a 52 week high of $423.92. The business’s 50-day moving average price is $392.45 and its 200-day moving average price is $372.01.
Insider Activity
In other news, Director Richard M. Schapiro sold 711 shares of the stock in a transaction on Monday, February 12th. The stock was 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 owns 12,207 shares in the company, valued at approximately $4,688,220.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Richard M. Schapiro sold 711 shares of the firm’s 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 transaction, the director now owns 12,207 shares of the company’s stock, valued at $4,688,220.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark Lowell Keim sold 15,000 shares of Molina Healthcare stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $386.56, for a total value of $5,798,400.00. Following the completion of the transaction, the chief financial officer now owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The disclosure for this sale can be found here. Insiders sold 16,711 shares of company stock valued at $6,472,517 over the last quarter. 1.10% of the stock is owned by company insiders.
Analyst Ratings Changes
Read Our Latest Research Report on MOH
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.
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