Molina Healthcare (NYSE:MOH) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

by · The Cerbat Gem

Molina Healthcare (NYSE:MOH – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $6.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.02 by ($0.01), Briefing.com reports. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. During the same quarter in the previous year, the business posted $5.05 EPS. The firm’s revenue for the quarter was up 21.0% compared to the same quarter last year. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Up 17.5 %

Shares of MOH stock traded up $48.25 during trading hours on Thursday, reaching $323.25. The company had a trading volume of 2,769,887 shares, compared to its average volume of 520,628. The company has a market cap of $18.94 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.15 and a beta of 0.58. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57. Molina Healthcare has a 12 month low of $272.69 and a 12 month high of $423.92. The business has a fifty day simple moving average of $335.72 and a 200-day simple moving average of $330.46.

Insider Buying and Selling

In other Molina Healthcare news, CAO Maurice Hebert sold 393 shares of Molina Healthcare stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at $3,282,583.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Maurice Hebert sold 393 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $346.52, for a total transaction of $136,182.36. Following the transaction, the chief accounting officer now directly owns 9,473 shares of the company’s stock, valued at $3,282,583.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Orlando sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $339.21, for a total transaction of $339,210.00. Following the transaction, the director now owns 18,025 shares in the company, valued at approximately $6,114,260.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MOH shares. Truist Financial dropped their target price on shares of Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Jefferies Financial Group decreased their target price on Molina Healthcare from $354.00 to $297.00 and set a “hold” rating for the company in a research note on Wednesday, July 24th. Stephens reissued an “equal weight” rating and issued a $320.00 price target on shares of Molina Healthcare in a research note on Thursday, July 25th. Robert W. Baird reduced their price objective on shares of Molina Healthcare from $405.00 to $331.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $406.00 price objective on shares of Molina Healthcare in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Molina Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.83.

Read Our Latest Report on MOH

About Molina Healthcare

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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.

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