Molina Healthcare (NYSE:MOH) Updates FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of at least $23.50 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MOH shares. Barclays reduced their target price on shares of Molina Healthcare from $437.00 to $430.00 and set an equal weight rating for the company in a research note on Thursday. Bank of America cut 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. Stephens restated an equal weight rating and issued a $390.00 target price on shares of Molina Healthcare in a research note on Thursday. StockNews.com downgraded shares of Molina Healthcare from a strong-buy rating to a buy rating in a research note on Thursday, February 8th. Finally, Wells Fargo & Company dropped their price objective on shares of 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Molina Healthcare presently has a consensus rating of Hold and an average price target of $396.09.

Molina Healthcare Price Performance

Shares of MOH stock traded down $8.96 during trading hours on Friday, hitting $343.34. 383,802 shares of the company’s stock were exchanged, compared to its average volume of 401,389. Molina Healthcare has a 52 week low of $266.35 and a 52 week high of $423.92. The stock has a market cap of $20.11 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.03 and a beta of 0.47. 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 stock’s 50-day moving average is $391.53 and its 200-day moving average is $371.87.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, topping analysts’ consensus estimates of $5.46 by $0.27. Molina Healthcare had a net margin of 2.99% and a return on equity of 30.99%. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.45 billion. During the same quarter in the prior year, the firm earned $5.81 EPS. The company’s revenue was up 21.9% on a year-over-year basis. As a group, research analysts forecast that Molina Healthcare will post 23.62 EPS for the current year.

Insider Buying and Selling at Molina Healthcare

In other news, CFO Mark Lowell Keim sold 15,000 shares of the business’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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Richard M. Schapiro sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the completion of the sale, the director now directly owns 11,207 shares of the company’s stock, valued at approximately $4,494,567.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $5,798,400.00. Following the transaction, the chief financial officer now directly owns 36,531 shares in the company, valued at approximately $14,121,423.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,711 shares of company stock worth $6,472,517. 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.