$4.97 Billion in Sales Expected for Molina Healthcare Inc (MOH) This Quarter
Wall Street brokerages expect Molina Healthcare Inc (NYSE:MOH) to post $4.97 billion in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for Molina Healthcare’s earnings, with the highest sales estimate coming in at $5.10 billion and the lowest estimate coming in at $4.90 billion. Molina Healthcare reported sales of $4.55 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.2%. The company is scheduled to report its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Molina Healthcare will report full-year sales of $4.97 billion for the current financial year, with estimates ranging from $19.53 billion to $20.14 billion. For the next fiscal year, analysts expect that the business will post sales of $20.83 billion per share, with estimates ranging from $19.71 billion to $21.64 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Molina Healthcare.
Molina Healthcare (NYSE:MOH) last announced its earnings results on Wednesday, August 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by $0.87. The firm had revenue of $5 billion for the quarter, compared to analyst estimates of $4.88 billion. Molina Healthcare had a positive return on equity of 16.10% and a negative net margin of 1.07%. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS.
A number of research firms recently commented on MOH. Jefferies Group LLC reaffirmed a “hold” rating and issued a $72.00 price target on shares of Molina Healthcare in a research note on Friday, July 14th. Stifel Nicolaus downgraded Molina Healthcare from a “hold” rating to a “sell” rating and boosted their target price for the stock from $47.00 to $60.00 in a research note on Wednesday, May 31st. Wolfe Research reissued a “market perform” rating and set a $69.00 target price on shares of Molina Healthcare in a research note on Monday, May 15th. Zacks Investment Research downgraded Molina Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded Molina Healthcare from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $62.39.
Shares of Molina Healthcare (NYSE:MOH) opened at 65.04 on Friday. The firm’s market cap is $3.71 billion. The company’s 50 day moving average is $63.02 and its 200-day moving average is $59.58. Molina Healthcare has a 12 month low of $42.56 and a 12 month high of $72.79.
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In other news, insider William Dentino sold 66,000 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $68.68, for a total value of $4,532,880.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director J Mario Md Molina sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $66.09, for a total value of $991,350.00. The disclosure for this sale can be found here. Insiders sold 327,486 shares of company stock valued at $21,309,611 in the last ninety days. 6.20% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in MOH. California Public Employees Retirement System boosted its holdings in Molina Healthcare by 3.4% in the first quarter. California Public Employees Retirement System now owns 67,200 shares of the company’s stock valued at $3,064,000 after acquiring an additional 2,200 shares during the last quarter. Scout Investments Inc. boosted its holdings in Molina Healthcare by 36.6% in the second quarter. Scout Investments Inc. now owns 614,535 shares of the company’s stock valued at $42,514,000 after acquiring an additional 164,677 shares during the last quarter. Keybank National Association OH boosted its holdings in Molina Healthcare by 10.5% in the second quarter. Keybank National Association OH now owns 41,333 shares of the company’s stock valued at $2,859,000 after acquiring an additional 3,929 shares during the last quarter. TD Asset Management Inc. bought a new stake in Molina Healthcare in the second quarter valued at approximately $1,858,000. Finally, Jane Street Group LLC bought a new stake in Molina Healthcare in the first quarter valued at approximately $325,000. 96.04% of the stock is owned by institutional investors.
Molina Healthcare Company Profile
Molina Healthcare, Inc offers Medicaid-related solutions for low-income families and individuals, and assists government agencies in their administration of the Medicaid program. The Company operates through three segments: Health Plans, Molina Medicaid Solutions and Other, which includes its Pathways Health and Community Support LLC (Pathways) business.
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