Molina Healthcare (MOH) Set to Announce Earnings on Wednesday

Molina Healthcare (NYSE:MOH) is set to release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Molina Healthcare to post 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.Persons interested in registering for the company’s earnings conference call can do so using this link.

Molina Healthcare (NYSE:MOH) last released its earnings results on Wednesday, February 7th. The company reported $4.38 EPS for the quarter, beating the consensus estimate of $4.31 by $0.07. The company had revenue of $9.05 billion during the quarter, compared to analysts’ expectations of $8.35 billion. Molina Healthcare had a return on equity of 32.34% and a net margin of 3.20%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $4.10 EPS. 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 Down 1.0 %

NYSE MOH opened at $357.41 on Wednesday. The stock has a fifty day moving average of $395.21 and a 200-day moving average of $370.85. The stock has a market capitalization of $20.94 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.06 and a beta of 0.47. Molina Healthcare has a 52 week low of $266.35 and a 52 week high of $423.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.54 and a current ratio of 1.54.

Wall Street Analyst Weigh In

Several research firms have recently commented on MOH. Barclays began coverage on Molina Healthcare in a research note on Wednesday, March 6th. They issued an “equal weight” rating and a $437.00 target price for the company. UBS Group lifted their target price on Molina Healthcare from $350.00 to $380.00 and gave the company a “neutral” rating in a research note on Thursday, December 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $406.00 target price on shares of Molina Healthcare in a research note on Thursday, April 4th. Bank of America cut Molina Healthcare from a “neutral” rating to an “underperform” rating and set a $439.00 price objective for the company. in a research note on Thursday, March 28th. Finally, Truist Financial lifted their price objective on Molina Healthcare from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $393.09.

Insiders Place Their Bets

In other Molina Healthcare news, Director Richard M. Schapiro sold 1,000 shares of Molina Healthcare stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total transaction of $401,050.00. Following the transaction, the director now directly owns 11,207 shares in the company, valued at $4,494,567.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard M. Schapiro sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $401.05, for a total value of $401,050.00. Following the sale, the director now directly owns 11,207 shares in the company, valued at $4,494,567.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 in the company, valued at $14,121,423.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,711 shares of company stock worth $6,472,517. Corporate insiders own 1.11% of the company’s stock.

Institutional Trading of Molina Healthcare

Hedge funds and other institutional investors have recently modified their holdings of the stock. Coppell Advisory Solutions Corp. acquired a new stake in shares of Molina Healthcare in the fourth quarter valued at about $34,000. Brown Brothers Harriman & Co. acquired a new position in Molina Healthcare during the first quarter worth approximately $40,000. Parkside Financial Bank & Trust grew its position in shares of Molina Healthcare by 85.9% in the first quarter. Parkside Financial Bank & Trust now owns 132 shares of the company’s stock valued at $44,000 after purchasing an additional 61 shares during the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Molina Healthcare in the first quarter valued at approximately $59,000. Finally, West Tower Group LLC acquired a new position in shares of Molina Healthcare in the fourth quarter valued at approximately $97,000. Institutional investors and hedge funds own 98.50% 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.