$4.97 Billion in Sales Expected for Molina Healthcare Inc (MOH) This Quarter
Analysts expect Molina Healthcare Inc (NYSE:MOH) to report $4.97 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Molina Healthcare’s earnings, with the lowest sales estimate coming in at $4.90 billion and the highest estimate coming in at $5.10 billion. Molina Healthcare posted sales of $4.55 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.2%. The business is scheduled to announce its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that Molina Healthcare will report full-year sales of $4.97 billion for the current year, with estimates ranging from $19.53 billion to $20.14 billion. For the next fiscal year, analysts anticipate that the company will post sales of $20.77 billion per share, with estimates ranging from $19.71 billion to $21.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Molina Healthcare.
Molina Healthcare (NYSE:MOH) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.87). The company had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.88 billion. Molina Healthcare had a positive return on equity of 16.10% and a negative net margin of 1.07%. Molina Healthcare’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS.
Several equities analysts have recently commented on the stock. Credit Suisse Group reissued an “underperform” rating and issued a $53.00 target price (up previously from $50.00) on shares of Molina Healthcare in a report on Friday, July 14th. Zacks Investment Research downgraded shares of Molina Healthcare from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Bank of America Corporation boosted their target price on shares of Molina Healthcare from $59.00 to $60.00 and gave the stock an “underperform” rating in a report on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and issued a $72.00 target price on shares of Molina Healthcare in a report on Friday, July 14th. Finally, Stifel Nicolaus reissued a “sell” rating and issued a $60.00 target price on shares of Molina Healthcare in a report on Friday, July 14th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $61.68.
In other Molina Healthcare news, insider William Dentino sold 66,000 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $60.09, for a total transaction of $3,965,940.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lisa A. Rubino sold 5,378 shares of the business’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $60.30, for a total transaction of $324,293.40. The disclosure for this sale can be found here. Insiders have sold 366,992 shares of company stock worth $23,240,734 in the last quarter. Company insiders own 6.20% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. LS Investment Advisors LLC increased its position in Molina Healthcare by 40.9% during the second quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock valued at $127,000 after acquiring an additional 531 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Molina Healthcare during the second quarter valued at $136,000. Riverhead Capital Management LLC increased its position in Molina Healthcare by 64.2% during the second quarter. Riverhead Capital Management LLC now owns 2,463 shares of the company’s stock valued at $170,000 after acquiring an additional 963 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Molina Healthcare by 478.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,316 shares of the company’s stock valued at $229,000 after acquiring an additional 2,743 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Molina Healthcare during the second quarter valued at $241,000. Institutional investors and hedge funds own 96.04% of the company’s stock.
Molina Healthcare (NYSE:MOH) opened at 59.86 on Tuesday. Molina Healthcare has a one year low of $42.56 and a one year high of $72.79. The company’s market cap is $3.42 billion. The stock has a 50 day moving average of $65.24 and a 200-day moving average of $63.16.
About Molina Healthcare
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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