Molina Healthcare (MOH) Set to Announce Quarterly Earnings on Wednesday

Molina Healthcare (NYSE:MOH) is scheduled to be issuing its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $5.46 per share for the quarter. Molina Healthcare has set its FY24 guidance at at least $23.50 EPS and its FY 2024 guidance at 23.500- EPS.Parties that wish to register for the company’s conference call can do so using this link.

Molina Healthcare (NYSE:MOH) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $4.38 earnings per share for the quarter, topping analysts’ consensus estimates of $4.31 by $0.07. The company had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $8.35 billion. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $4.10 earnings per share. 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 Trading Up 1.8 %

Shares of NYSE MOH opened at $367.52 on Monday. The company’s fifty day moving average is $394.33 and its 200-day moving average is $371.60. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 1.03 and a beta of 0.47. Molina Healthcare has a twelve month low of $266.35 and a twelve month high of $423.92. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.57.

Wall Street Analysts Forecast Growth

MOH has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $406.00 price objective on shares of Molina Healthcare in a research report on Thursday, April 4th. Wells Fargo & Company cut their price objective on shares of Molina Healthcare from $440.00 to $410.00 and set an “equal weight” rating on the stock in a research report on Monday, April 15th. Barclays initiated coverage on shares of Molina Healthcare in a research report on Wednesday, March 6th. They issued an “equal weight” rating and a $437.00 price objective on the stock. Truist Financial boosted their price objective on shares of Molina Healthcare from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. Finally, Bank of America cut shares of Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price objective on the stock. in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $393.09.

Insider Buying and Selling at Molina Healthcare

In other Molina Healthcare news, CFO Mark Lowell Keim sold 15,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $386.56, for a total value of $5,798,400.00. Following the completion of the sale, the chief financial officer now owns 36,531 shares of the company’s stock, valued at approximately $14,121,423.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard M. Schapiro sold 1,000 shares of the company’s 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 sale, the director now owns 11,207 shares of the company’s stock, valued at approximately $4,494,567.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Lowell Keim sold 15,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly 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. Insiders sold 16,711 shares of company stock valued at $6,472,517 in the last quarter. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Molina Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. Bleakley Financial Group LLC acquired a new position in Molina Healthcare during the 2nd quarter worth approximately $215,000. Delphia USA Inc. acquired a new position in Molina Healthcare during the 1st quarter worth approximately $211,000. State of Wyoming acquired a new position in Molina Healthcare during the 2nd quarter worth approximately $203,000. Advisory Services Network LLC increased its position in Molina Healthcare by 15.0% during the 1st quarter. Advisory Services Network LLC now owns 728 shares of the company’s stock worth $195,000 after purchasing an additional 95 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new position in Molina Healthcare during the 2nd quarter worth approximately $174,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

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.