Molina Healthcare (NYSE:MOH) Releases FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of at least $23.50 for the period, compared to the consensus EPS estimate of $23.57. The company issued revenue guidance of approx $38 billion, compared to the consensus revenue estimate of $39.31 billion.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their price target on Molina Healthcare from $440.00 to $410.00 and set an equal weight rating on the stock in a research report on Monday, April 15th. Cantor Fitzgerald restated an overweight rating and issued a $406.00 target price on shares of Molina Healthcare in a research report on Thursday, April 4th. Truist Financial lifted their price objective on Molina Healthcare from $435.00 to $460.00 and gave the company a buy rating in a research note on Tuesday, February 20th. StockNews.com cut Molina Healthcare from a strong-buy rating to a buy rating in a research note on Thursday, February 8th. Finally, Bank of America downgraded Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price target for the company. in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Molina Healthcare currently has a consensus rating of Hold and a consensus target price of $393.09.

Molina Healthcare Stock Up 1.2 %

Shares of Molina Healthcare stock traded up $4.19 during trading hours on Wednesday, hitting $367.41. 459,748 shares of the company’s stock traded hands, compared to its average volume of 393,888. The company has a market cap of $21.52 billion, a PE ratio of 19.50, a PEG ratio of 1.01 and a beta of 0.47. Molina Healthcare has a twelve month low of $266.35 and a twelve month high of $423.92. The stock has a 50 day simple moving average of $393.09 and a 200-day simple moving average of $372.04. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.57.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07. The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Molina Healthcare had a return on equity of 32.34% and a net margin of 3.20%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.10 earnings per share. Equities research analysts anticipate that Molina Healthcare will post 23.62 earnings per share for the current fiscal year.

Insider Activity at Molina Healthcare

In other news, CFO Mark Lowell Keim sold 15,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were 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 owns 36,531 shares in the company, valued at approximately $14,121,423.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $386.56, for a total value of $5,798,400.00. Following the transaction, the chief financial officer now directly owns 36,531 shares in the company, valued at $14,121,423.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard M. Schapiro sold 1,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total transaction of $401,050.00. Following the sale, the director now directly owns 11,207 shares of the company’s stock, valued at approximately $4,494,567.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,711 shares of company stock valued at $6,472,517. Insiders own 1.11% 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.