Molina Healthcare (NYSE:MOH) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Molina Healthcare (NYSE:MOH - Get Free Report) released its quarterly earnings data on Wednesday. The company reported $6.01 earnings per share for the quarter, beating the consensus estimate of $5.96 by $0.05, Briefing.com reports. The company had revenue of $10.34 billion for the quarter, compared to the consensus estimate of $9.92 billion. Molina Healthcare had a return on equity of 28.09% and a net margin of 2.84%. Molina Healthcare's revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $5.05 EPS. Molina Healthcare updated its FY24 guidance to $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Performance

Shares of Molina Healthcare stock opened at $323.25 on Friday. Molina Healthcare has a one year low of $272.69 and a one year high of $423.92. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 0.99 and a beta of 0.58. The business has a 50-day simple moving average of $335.72 and a 200 day simple moving average of $330.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.57 and a quick ratio of 1.57.

Insider Activity at Molina Healthcare

In related news, 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 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 $6,114,260.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Molina Healthcare news, Director Steven J. Orlando sold 1,000 shares of the business'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 completion of the sale, the director now directly owns 18,025 shares of the company's stock, valued at approximately $6,114,260.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Maurice Hebert sold 393 shares of the business'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 sale, the chief accounting officer now directly owns 9,473 shares of the company's stock, valued at $3,282,583.96. This 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 Analyst Weigh In

MOH has been the topic of several recent research reports. Stephens reaffirmed an "equal weight" rating and set a $320.00 target price on shares of Molina Healthcare in a report on Thursday, July 25th. Robert W. Baird cut their target price on Molina Healthcare from $405.00 to $331.00 and set an "outperform" rating on the stock in a report on Thursday. Wells Fargo & Company lifted their target price on Molina Healthcare from $315.00 to $360.00 and gave the stock an "equal weight" rating in a report on Monday, August 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $406.00 price objective on shares of Molina Healthcare in a research report on Thursday. Finally, TD Cowen lowered their price objective on Molina Healthcare from $412.00 to $351.00 and set a "buy" rating for the company in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Molina Healthcare presently has an average rating of "Moderate Buy" and an average target price of $371.83.

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.