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

Molina Healthcare (NYSE:MOH) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 23.500- for the period, compared to the consensus EPS estimate of 23.560. The company issued revenue guidance of $39.6 billion-$39.6 billion, compared to the consensus revenue estimate of $39.3 billion. Molina Healthcare also updated its FY24 guidance to at least $23.50 EPS.

Analysts Set New Price Targets

A number of brokerages have commented on MOH. StockNews.com cut shares of Molina Healthcare from a strong-buy rating to a buy rating in a report on Thursday, February 8th. Barclays began coverage on shares of Molina Healthcare in a report on Wednesday, March 6th. They set an equal weight rating and a $437.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Molina Healthcare from $440.00 to $410.00 and set an equal weight rating for the company in a research report on Monday, April 15th. Bank of America lowered shares of Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price target for the company. in a research report on Thursday, March 28th. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $406.00 price target on shares of Molina Healthcare in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $393.09.

Molina Healthcare Stock Up 1.2 %

Shares of NYSE:MOH traded up $4.40 during trading on Wednesday, reaching $367.62. The stock had a trading volume of 461,136 shares, compared to its average volume of 395,346. Molina Healthcare has a one year low of $266.35 and a one year high of $423.92. The company has a market capitalization of $21.54 billion, a P/E ratio of 19.58, a PEG ratio of 1.01 and a beta of 0.47. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $393.09 and its 200 day simple moving average is $372.04.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. The company had revenue of $9.05 billion for the quarter, compared to analyst estimates of $8.35 billion. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 earnings per share. As a group, research analysts expect that Molina Healthcare will post 23.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Molina Healthcare news, CFO Mark Lowell Keim sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 36,531 shares of the company’s stock, valued at $14,121,423.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Mark Lowell Keim sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 36,531 shares in the company, valued at $14,121,423.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard M. Schapiro sold 1,000 shares of Molina Healthcare stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the completion of the transaction, the director now owns 11,207 shares in the company, valued at $4,494,567.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,711 shares of company stock valued at $6,472,517. 1.11% of the stock is owned by corporate insiders.

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.