Molina Healthcare (NYSE:MOH) Posts Earnings Results, Beats Expectations By $0.13 EPS

Molina Healthcare (NYSE:MOH) issued its quarterly earnings data on Wednesday. The company reported $5.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.73 by $0.13, Briefing.com reports. Molina Healthcare had a return on equity of 29.86% and a net margin of 2.99%. The business had revenue of $9.88 billion during the quarter, compared to the consensus estimate of $9.75 billion. During the same period in the previous year, the firm posted $5.65 earnings per share. The business’s revenue was up 18.7% on a year-over-year basis. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Up 0.7 %

Shares of Molina Healthcare stock opened at $288.96 on Thursday. The stock has a 50-day simple moving average of $308.75 and a 200-day simple moving average of $354.31. Molina Healthcare has a 52-week low of $282.96 and a 52-week high of $423.92. The firm has a market cap of $16.93 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 0.88 and a beta of 0.58. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.49 and a quick ratio of 1.49.

Insider Activity at Molina Healthcare

In related news, COO James Woys sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 53,613 shares in the company, valued at $18,504,526.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Molina Healthcare news, Director Ronna Romney sold 250 shares of the stock in a transaction that occurred 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 transaction, the director now owns 16,945 shares in the company, valued at $5,816,710.15. The sale was disclosed in a filing with the SEC, which is available at 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 transaction of $3,451,500.00. Following the completion of the sale, the chief operating officer now owns 53,613 shares of the company’s stock, valued at $18,504,526.95. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Stephens reiterated an “equal weight” rating and set a $390.00 price target on shares of Molina Healthcare in a research report on Thursday, April 25th. TD Cowen decreased 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 report on Wednesday. Wells Fargo & Company decreased their price target on Molina Healthcare from $375.00 to $315.00 and set an “equal weight” rating for the company in a research report on Monday. Baird R W upgraded Molina Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Jefferies Financial Group dropped their target price on shares of Molina Healthcare from $354.00 to $297.00 and set a “hold” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $382.55.

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.