Molina Healthcare (NYSE:MOH) Releases FY24 Earnings Guidance

Molina Healthcare (NYSE:MOH) issued an update on its FY24 earnings guidance on Wednesday morning. 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.

Molina Healthcare Stock Down 2.9 %

MOH stock traded down $10.07 during trading on Friday, hitting $342.23. 595,215 shares of the company’s stock traded hands, compared to its average volume of 431,658. The firm has a market capitalization of $20.05 billion, a P/E ratio of 18.57, a PEG ratio of 0.99 and a beta of 0.47. The business has a fifty day simple moving average of $390.34 and a two-hundred day simple moving average of $371.90. The company has a quick ratio of 1.54, a current ratio of 1.49 and a debt-to-equity ratio of 0.53. 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 data on Wednesday, April 24th. The company reported $5.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.46 by $0.27. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.45 billion. Molina Healthcare had a net margin of 2.99% and a return on equity of 29.86%. Molina Healthcare’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $5.81 earnings per share. Sell-side analysts anticipate that Molina Healthcare will post 23.62 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MOH. Bank of America downgraded shares of Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 target price for the company. in a research note on Thursday, March 28th. Barclays lowered their target price on shares of Molina Healthcare from $437.00 to $430.00 and set an equal weight rating for the company in a research note on Thursday. Truist Financial raised their target price 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. Stephens restated an equal weight rating and issued a $390.00 target price on shares of Molina Healthcare in a research note on Thursday. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $406.00 price objective on shares of Molina Healthcare in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $396.09.

Insider Activity at Molina Healthcare

In related news, Director Richard M. Schapiro sold 1,000 shares of the business’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 directly owns 11,207 shares in the company, valued at $4,494,567.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Richard M. Schapiro sold 711 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $384.06, for a total transaction of $273,066.66. Following the completion of the sale, the director now owns 12,207 shares of the company’s stock, valued at $4,688,220.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 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. Insiders sold 16,711 shares of company stock worth $6,472,517 over the last three months. Company 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.