Molina Healthcare (NYSE:MOH) Issues Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Molina Healthcare (NYSE:MOHGet Free Report) issued its quarterly earnings data on Wednesday. The company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.31 by $0.07, Briefing.com reports. Molina Healthcare had a net margin of 3.20% and a return on equity of 32.34%. The business had revenue of $9.05 billion for the quarter, compared to the consensus estimate of $8.35 billion. During the same period in the previous year, the firm earned $4.10 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Molina Healthcare updated its FY24 guidance to at least $23.50 EPS and its FY 2024 guidance to 23.500- EPS.

Molina Healthcare Stock Up 1.9 %

Shares of NYSE:MOH opened at $388.67 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.47 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $367.29 and a two-hundred day simple moving average of $344.66. Molina Healthcare has a 12-month low of $256.19 and a 12-month high of $391.21. The stock has a market capitalization of $22.66 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 1.12 and a beta of 0.45.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MOH shares. Cantor Fitzgerald increased their price target on shares of Molina Healthcare from $374.00 to $406.00 and gave the stock an “overweight” rating in a research note on Friday. StockNews.com lowered Molina Healthcare from a “strong-buy” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Molina Healthcare from $367.00 to $392.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Finally, UBS Group increased their price objective on Molina Healthcare from $350.00 to $380.00 and gave the stock a “neutral” rating in a report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $357.50.

Get Our Latest Report on Molina Healthcare

Insider Transactions at Molina Healthcare

In other news, Director Ronna Romney sold 335 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $358.00, for a total transaction of $119,930.00. Following the completion of the transaction, the director now directly owns 16,907 shares in the company, valued at $6,052,706. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Molina Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Molina Healthcare by 18.4% in the 1st quarter. Vanguard Group Inc. now owns 6,449,375 shares of the company’s stock valued at $2,151,448,000 after acquiring an additional 1,001,372 shares in the last quarter. State Street Corp raised its stake in shares of Molina Healthcare by 25.6% in the first quarter. State Street Corp now owns 2,457,008 shares of the company’s stock worth $819,633,000 after purchasing an additional 501,107 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Molina Healthcare by 10.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,374,111 shares of the company’s stock valued at $783,979,000 after purchasing an additional 228,221 shares in the last quarter. Durable Capital Partners LP boosted its position in shares of Molina Healthcare by 9.7% during the fourth quarter. Durable Capital Partners LP now owns 1,240,045 shares of the company’s stock valued at $409,488,000 after buying an additional 110,068 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Molina Healthcare by 1.7% during the first quarter. Geode Capital Management LLC now owns 1,194,727 shares of the company’s stock valued at $318,850,000 after buying an additional 20,336 shares during the last quarter. Institutional investors own 98.11% of the company’s stock.

About Molina Healthcare

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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.

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Earnings History for Molina Healthcare (NYSE:MOH)

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