FY2023 EPS Estimates for Molina Healthcare, Inc. (NYSE:MOH) Lifted by Cantor Fitzgerald

Molina Healthcare, Inc. (NYSE:MOH) – Equities researchers at Cantor Fitzgerald increased their FY2023 earnings estimates for Molina Healthcare in a note issued to investors on Thursday, September 14th. Cantor Fitzgerald analyst S. James now anticipates that the company will post earnings per share of $20.79 for the year, up from their prior estimate of $20.29. Cantor Fitzgerald has a “Overweight” rating and a $359.00 price objective on the stock. The consensus estimate for Molina Healthcare’s current full-year earnings is $20.78 per share. Cantor Fitzgerald also issued estimates for Molina Healthcare’s FY2024 earnings at $23.21 EPS.

A number of other equities analysts have also issued reports on the stock. Bank of America raised their target price on shares of Molina Healthcare from $340.00 to $350.00 in a research report on Thursday, July 27th. StockNews.com upgraded shares of Molina Healthcare from a “buy” rating to a “strong-buy” rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Molina Healthcare from $348.00 to $341.00 in a research note on Friday, July 7th. UBS Group began coverage on shares of Molina Healthcare in a research note on Tuesday, June 20th. They set a “neutral” rating and a $310.00 target price for the company. Finally, Truist Financial decreased their target price on shares of Molina Healthcare from $380.00 to $365.00 in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Molina Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $351.31.

Molina Healthcare Stock Performance

Shares of MOH opened at $327.60 on Monday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.66. The firm has a market cap of $19.10 billion, a PE ratio of 20.76, a price-to-earnings-growth ratio of 1.11 and a beta of 0.65. The company’s 50 day simple moving average is $312.37 and its 200-day simple moving average is $293.35. Molina Healthcare has a 12-month low of $256.19 and a 12-month high of $374.00.

Molina Healthcare (NYSE:MOH) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $5.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.60. The company had revenue of $8.33 billion for the quarter, compared to analyst estimates of $8.32 billion. Molina Healthcare had a return on equity of 35.87% and a net margin of 2.81%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $4.55 earnings per share.

Institutional Investors Weigh In On Molina Healthcare

Large investors have recently added to or reduced their stakes in the business. ST Germain D J Co. Inc. purchased a new stake in Molina Healthcare in the 2nd quarter valued at approximately $33,000. Comerica Bank purchased a new stake in Molina Healthcare in the 2nd quarter valued at approximately $31,510,000. Osaic Holdings Inc. lifted its stake in Molina Healthcare by 261.0% in the 2nd quarter. Osaic Holdings Inc. now owns 11,400 shares of the company’s stock valued at $3,434,000 after buying an additional 8,242 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Molina Healthcare by 182.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 15,594 shares of the company’s stock valued at $4,698,000 after buying an additional 10,071 shares in the last quarter. Finally, Durable Capital Partners LP raised its stake in Molina Healthcare by 4.5% in the 2nd quarter. Durable Capital Partners LP now owns 1,419,901 shares of the company’s stock valued at $427,731,000 after purchasing an additional 61,709 shares during the last quarter. 98.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Molina Healthcare

In related news, CAO Maurice Hebert sold 692 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $328.15, for a total value of $227,079.80. Following the completion of the sale, the chief accounting officer now owns 8,528 shares in the company, valued at $2,798,463.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Barbara L. Brasier sold 1,500 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $303.89, for a total value of $455,835.00. Following the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $982,172.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Maurice Hebert sold 692 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $328.15, for a total transaction of $227,079.80. Following the completion of the sale, the chief accounting officer now directly owns 8,528 shares in the company, valued at $2,798,463.20. The disclosure for this sale can be found here. Insiders sold 17,938 shares of company stock worth $5,474,336 over the last 90 days. Company insiders own 1.10% of the company’s stock.

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.