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

Molina Healthcare (NYSE:MOH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 23.500- for the period, compared to the consensus estimate of 23.510. The company issued revenue guidance of $38.0 billion-$38.0 billion, compared to the consensus revenue estimate of $39.8 billion. Molina Healthcare also updated its FY24 guidance to $23.50 EPS.

Molina Healthcare Stock Performance

MOH traded up $6.85 on Friday, hitting $330.44. 1,075,496 shares of the stock traded hands, compared to its average volume of 523,312. The business has a fifty day moving average price of $335.72 and a two-hundred day moving average price of $330.46. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.49. Molina Healthcare has a 52 week low of $272.69 and a 52 week high of $423.92. The firm has a market capitalization of $19.36 billion, a PE ratio of 18.07, a P/E/G ratio of 0.99 and a beta of 0.58.

Molina Healthcare (NYSE:MOH) last issued its earnings results on Wednesday, October 23rd. The company reported $6.01 EPS for the quarter, beating analysts’ consensus estimates of $5.96 by $0.05. The business had revenue of $10.34 billion during the quarter, compared to analyst estimates of $9.92 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. Molina Healthcare’s revenue was up 21.0% on a year-over-year basis. During the same period in the prior year, the company posted $5.05 earnings per share. On average, research analysts predict that Molina Healthcare will post 23.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MOH has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Molina Healthcare from $354.00 to $353.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Cantor Fitzgerald restated an “overweight” rating and set a $406.00 target price on shares of Molina Healthcare in a research report on Thursday. TD Cowen decreased their price target on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. StockNews.com upgraded Molina Healthcare from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. cut their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $367.00.

Insider Transactions at Molina Healthcare

In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total value of $339,210.00. Following the transaction, the director now directly owns 18,025 shares in the company, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Steven J. Orlando sold 1,000 shares of Molina Healthcare stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $339.21, for a total transaction of $339,210.00. Following the completion of the sale, the director now owns 18,025 shares in the company, valued at $6,114,260.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Maurice Hebert sold 393 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $346.52, for a total transaction of $136,182.36. Following the sale, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at approximately $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company 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.