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

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MOH shares. Cantor Fitzgerald reissued an overweight rating and set a $406.00 price objective on shares of Molina Healthcare in a research report on Thursday, April 4th. Barclays dropped their price objective on shares of Molina Healthcare from $437.00 to $430.00 and set an equal weight rating on the stock in a research note on Thursday. Wells Fargo & Company dropped their price objective on shares of Molina Healthcare from $440.00 to $410.00 and set an equal weight rating on the stock in a research note 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 objective on the stock. in a research note on Thursday, March 28th. Finally, Truist Financial lifted their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a buy rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Molina Healthcare currently has a consensus rating of Hold and an average price target of $396.09.

Molina Healthcare Trading Down 2.9 %

Shares of MOH traded down $10.07 on Friday, hitting $342.23. 593,393 shares of the stock traded hands, compared to its average volume of 404,212. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $20.05 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.03 and a beta of 0.47. The stock’s 50 day moving average is $391.53 and its two-hundred day moving average is $371.87. Molina Healthcare has a 1 year low of $266.35 and a 1 year high of $423.92.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $5.73 EPS for the quarter, topping the consensus estimate of $5.46 by $0.27. Molina Healthcare had a net margin of 2.99% and a return on equity of 30.99%. The firm had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.45 billion. During the same quarter in the prior year, the business posted $5.81 earnings per share. Molina Healthcare’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, sell-side analysts predict that Molina Healthcare will post 23.62 earnings per share for the current year.

Insider Transactions at Molina Healthcare

In other news, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Mark Lowell Keim sold 15,000 shares of the company’s stock in a transaction 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 completion of 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Schapiro sold 1,000 shares of the company’s 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 of the company’s stock, valued at $4,494,567.35. The disclosure for this sale can be found here. Insiders sold 16,711 shares of company stock valued at $6,472,517 over the last 90 days. 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.