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

Molina Healthcare (NYSE:MOH) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 23.500- for the period, compared to the consensus 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 equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an overweight rating and issued a $406.00 price target on shares of Molina Healthcare in a research note on Thursday, April 4th. Truist Financial raised their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a buy rating in a report on Tuesday, February 20th. Barclays initiated coverage on Molina Healthcare in a research report on Wednesday, March 6th. They issued an equal weight rating and a $437.00 price target on the stock. Wells Fargo & Company decreased 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 report on Monday, April 15th. Finally, Bank of America lowered Molina Healthcare from a neutral rating to an underperform rating and set a $439.00 price target on the stock. in a research note on Thursday, March 28th. 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 MarketBeat.com, Molina Healthcare has a consensus rating of Hold and an average target price of $393.09.

Molina Healthcare Stock Up 1.2 %

Shares of MOH stock traded up $4.40 during trading hours on Wednesday, reaching $367.62. The company had a trading volume of 461,136 shares, compared to its average volume of 395,346. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth 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 has a 12 month low of $266.35 and a 12 month high of $423.92. The business has a fifty day simple moving average of $393.09 and a 200-day simple moving average of $372.04.

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

Insider Buying and Selling

In other news, Director Richard M. Schapiro sold 1,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,494,567.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Molina Healthcare news, Director Richard M. Schapiro sold 1,000 shares of the company’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 sale, the director now directly owns 11,207 shares of the company’s stock, valued at $4,494,567.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mark Lowell Keim sold 15,000 shares of the stock in a transaction dated Monday, February 12th. The stock was 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 owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,711 shares of company stock worth $6,472,517. 1.11% of the stock is owned by 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.