Molina Healthcare (NYSE:MOH) Issues 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. Molina Healthcare also updated its FY 2024 guidance to 23.500- EPS.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MOH. Truist Financial boosted their price target on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a buy rating in a research report on Tuesday, February 20th. Wells Fargo & Company reduced their price objective on shares of Molina Healthcare from $440.00 to $410.00 and set an equal weight rating for the company in a research note on Monday, April 15th. Cantor Fitzgerald reaffirmed an overweight rating and set a $406.00 price target on shares of Molina Healthcare in a report on Thursday, April 4th. StockNews.com cut shares of Molina Healthcare from a strong-buy rating to a buy rating in a report on Thursday, February 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Molina Healthcare currently has a consensus rating of Hold and a consensus target price of $393.09.

Molina Healthcare Trading Up 1.2 %

Shares of Molina Healthcare stock traded up $4.40 during trading on Wednesday, hitting $367.62. The stock had a trading volume of 461,136 shares, compared to its average volume of 395,346. Molina Healthcare has a 12 month low of $266.35 and a 12 month high of $423.92. The firm’s fifty day simple moving average is $393.09 and its 200-day simple moving average is $372.04. The stock has a market cap of $21.54 billion, a PE ratio of 19.50, a PEG ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.54 and a quick ratio of 1.54.

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

Insider Activity at Molina Healthcare

In related news, Director Richard M. Schapiro sold 1,000 shares of the 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 sale, the director now directly owns 11,207 shares of the company’s stock, valued at $4,494,567.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $384.06, for a total value of $273,066.66. Following the transaction, the director now directly owns 12,207 shares of the company’s stock, valued at approximately $4,688,220.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $401.05, for a total transaction of $401,050.00. Following the transaction, the director now directly owns 11,207 shares in the company, valued at approximately $4,494,567.35. The disclosure for this sale can be found here. Insiders sold 16,711 shares of company stock worth $6,472,517 over the last three months. Company insiders own 1.11% 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.