Molina Healthcare (NYSE:MOH) Issues FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $23.50 for the period, compared to the consensus estimate of $23.09. Molina Healthcare also updated its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Performance

NYSE MOH traded up $2.06 during trading on Wednesday, hitting $288.96. 1,243,881 shares of the company’s stock traded hands, compared to its average volume of 462,157. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 0.89 and a beta of 0.58. Molina Healthcare has a 12-month low of $282.96 and a 12-month high of $423.92. The business has a 50 day moving average of $308.75 and a 200-day moving average of $354.31.

Molina Healthcare (NYSE:MOH) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.77 by $0.09. The company had revenue of $9.88 billion for the quarter, compared to analyst estimates of $9.75 billion. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.65 earnings per share. As a group, equities research analysts anticipate that Molina Healthcare will post 23.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MOH. TD Cowen reduced their price target on Molina Healthcare from $412.00 to $351.00 and set a buy rating for the company in a research report on Wednesday. Stephens reissued an equal weight rating and set a $390.00 price objective on shares of Molina Healthcare in a research note on Thursday, April 25th. Truist Financial cut their price objective on Molina Healthcare from $440.00 to $400.00 and set a buy rating for the company in a report on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of Molina Healthcare from $420.00 to $395.00 and set an overweight rating on the stock in a research note on Wednesday, July 10th. Finally, Bank of America lowered Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price target for the company. in a research note on Thursday, March 28th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Molina Healthcare has a consensus rating of Moderate Buy and a consensus price target of $382.55.

Insider Activity

In related news, Director Ronna Romney sold 250 shares of Molina Healthcare stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $343.27, for a total transaction of $85,817.50. Following the completion of the sale, the director now owns 16,945 shares in the company, valued at approximately $5,816,710.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO James Woys sold 10,000 shares of the company’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 directly owns 53,613 shares of the company’s stock, valued at $18,504,526.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronna Romney sold 250 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.