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

Several analysts recently commented on the company. Barclays cut their price objective on Molina Healthcare from $437.00 to $430.00 and set an equal weight rating for the company in a report on Thursday. Wells Fargo & Company cut their price target on Molina Healthcare from $440.00 to $410.00 and set an equal weight rating for the company in a report on Monday, April 15th. Bank of America lowered 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. Cantor Fitzgerald reissued an overweight rating and set a $406.00 price target on shares of Molina Healthcare in a report on Thursday, April 4th. Finally, StockNews.com lowered Molina Healthcare from a strong-buy rating to a buy rating in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $396.09.

Molina Healthcare Price Performance

Shares of NYSE MOH traded down $10.07 during mid-day trading on Friday, reaching $342.23. The company’s stock had a trading volume of 593,393 shares, compared to its average volume of 404,212. The firm has a market capitalization of $20.05 billion, a PE ratio of 19.12, a P/E/G ratio of 1.03 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. The stock has a fifty day moving average of $391.53 and a two-hundred day moving average of $371.87. Molina Healthcare has a 52 week low of $266.35 and a 52 week high of $423.92.

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

Insider Buying and Selling

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