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

Molina Healthcare (NYSE:MOH - Get Free Report) will be releasing 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.Parties that are interested in participating in the company's conference call can do so using this link.

Molina Healthcare (NYSE:MOH - Get Free Report) 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 firm had revenue of $9.05 billion during 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 firm's revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company 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 Up 0.7 %

Molina Healthcare stock traded up $2.43 during midday trading on Wednesday, hitting $359.82. 487,974 shares of the company were exchanged, compared to its average volume of 395,160. Molina Healthcare has a fifty-two week low of $266.35 and a fifty-two week high of $423.92. The company has a market cap of $21.08 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.54 and a quick ratio of 1.54. The company's fifty day moving average price is $395.16 and its 200-day moving average price is $370.78.

Insiders Place Their Bets

In other Molina Healthcare news, Director Richard M. Schapiro sold 711 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $384.06, for a total value of $273,066.66. Following the completion of the transaction, the director now owns 12,207 shares of the company's stock, valued at approximately $4,688,220.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Mark Lowell Keim sold 15,000 shares of Molina Healthcare stock in a transaction dated Monday, February 12th. The shares were 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 in the company, valued at approximately $14,121,423.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard M. Schapiro sold 711 shares of the company's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $384.06, for a total transaction of $273,066.66. Following the completion of the sale, the director now directly owns 12,207 shares in the company, valued at approximately $4,688,220.42. The disclosure for this sale can be found here. Insiders have sold 16,711 shares of company stock worth $6,472,517 in the last ninety days. Insiders own 1.11% of the company's stock.

Institutional Investors Weigh In On Molina Healthcare

Institutional investors have recently added to or reduced their stakes in the stock. Coppell Advisory Solutions Corp. acquired a new position in Molina Healthcare in the fourth quarter valued at about $34,000. Brown Brothers Harriman & Co. acquired a new stake in Molina Healthcare during the 1st quarter valued at $40,000. Parkside Financial Bank & Trust raised its position in Molina Healthcare by 85.9% in the 1st 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 Molina Healthcare in the first quarter worth $59,000. Finally, West Tower Group LLC bought a new stake in shares of Molina Healthcare during the fourth quarter worth $97,000. 98.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MOH has been the topic of a number of research analyst reports. Truist Financial increased their target price on Molina Healthcare from $435.00 to $460.00 and gave the stock a "buy" rating in a report on Tuesday, February 20th. UBS Group upped their price objective on shares of Molina Healthcare from $350.00 to $380.00 and gave the stock a "neutral" rating in a report on Thursday, December 21st. Barclays started coverage on Molina Healthcare in a report on Wednesday, March 6th. They set an "equal weight" rating and a $437.00 target price on the stock. Bank of America downgraded shares of Molina Healthcare from a "neutral" rating to an "underperform" rating and set a $439.00 price target for the company. in a research report on Thursday, March 28th. Finally, Wells Fargo & Company decreased their target price on shares of Molina Healthcare from $440.00 to $410.00 and set an "equal weight" rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Molina Healthcare has an average rating of "Hold" and a consensus price target of $393.09.

Molina Healthcare Company Profile

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.