Molina Healthcare (MOH) Set to Announce Earnings on Wednesday

Molina Healthcare (NYSE:MOH) will announce its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $6.02 per share for the quarter. Molina Healthcare has set its FY24 guidance at $23.50 EPS and its FY 2024 guidance at 23.500- EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, July 24th. The company reported $5.86 earnings per share for the quarter, beating the consensus estimate of $5.73 by $0.13. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. The firm had revenue of $9.88 billion for the quarter, compared to analysts’ expectations of $9.75 billion. During the same quarter last year, the firm posted $5.65 EPS. The company’s revenue was up 18.7% compared to the same quarter last year. On average, analysts expect Molina Healthcare to post $24 EPS for the current fiscal year and $27 EPS for the next fiscal year.

Molina Healthcare Stock Performance

NYSE:MOH opened at $289.72 on Monday. The business’s 50-day moving average price is $339.60 and its two-hundred day moving average price is $332.19. Molina Healthcare has a twelve month low of $282.96 and a twelve month high of $423.92. The stock has a market cap of $16.98 billion, a P/E ratio of 15.72, a PEG ratio of 1.15 and a beta of 0.58. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.49.

Insider Activity at Molina Healthcare

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MOH shares. TD Cowen decreased their price objective on Molina Healthcare from $412.00 to $351.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. decreased their price objective on Molina Healthcare from $420.00 to $395.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Truist Financial decreased their price objective on Molina Healthcare from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Wells Fargo & Company raised their price objective on Molina Healthcare from $315.00 to $360.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $406.00 price objective on shares of Molina Healthcare in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.00.

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.