Molina Healthcare (NYSE:MOH) Updates FY 2024 Earnings Guidance

Molina Healthcare (NYSE:MOH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 23.500- for the period. The company issued revenue guidance of -. Molina Healthcare also updated its FY24 guidance to $23.50 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MOH. Jefferies Financial Group lowered their price objective on Molina Healthcare from $354.00 to $297.00 and set a hold rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their price target on shares of Molina Healthcare from $375.00 to $315.00 and set an equal weight rating for the company in a report on Monday, July 22nd. Robert W. Baird began coverage on shares of Molina Healthcare in a report on Thursday, May 30th. They issued an outperform rating and a $405.00 price objective on the stock. TD Cowen lowered their target price on shares of Molina Healthcare from $412.00 to $351.00 and set a buy rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their price target on Molina Healthcare from $420.00 to $395.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Molina Healthcare currently has a consensus rating of Moderate Buy and a consensus price target of $376.18.

Molina Healthcare Stock Performance

Shares of NYSE MOH traded up $11.19 during trading hours on Friday, reaching $335.36. The stock had a trading volume of 1,251,147 shares, compared to its average volume of 770,644. The firm has a 50-day moving average of $306.95 and a 200-day moving average of $353.35. The firm has a market cap of $19.65 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 1.01 and a beta of 0.58. The company has a current ratio of 1.57, a quick ratio of 1.49 and a debt-to-equity ratio of 0.49. Molina Healthcare has a fifty-two week low of $282.96 and a fifty-two week high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, topping analysts’ consensus estimates of $5.73 by $0.13. The firm had revenue of $9.88 billion during the quarter, compared to analysts’ expectations of $9.75 billion. Molina Healthcare had a net margin of 2.84% and a return on equity of 28.09%. Molina Healthcare’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.65 EPS. Equities research analysts predict that Molina Healthcare will post 23.14 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO James Woys sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $345.15, for a total value of $3,451,500.00. Following the completion of the sale, the chief operating officer now owns 53,613 shares in the company, valued at $18,504,526.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Ronna Romney sold 250 shares of Molina Healthcare stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $343.27, for a total transaction of $85,817.50. Following the completion of the transaction, the director now directly owns 16,945 shares of the company’s stock, valued at $5,816,710.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO James Woys sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $345.15, for a total value of $3,451,500.00. Following the sale, the chief operating officer now owns 53,613 shares in the company, valued at $18,504,526.95. The disclosure for this sale can be found here. 1.10% of the stock is owned by 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.