Molina Healthcare Inc (MOH) Expected to Announce Quarterly Sales of $4.95 Billion
Brokerages forecast that Molina Healthcare Inc (NYSE:MOH) will announce sales of $4.95 billion for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Molina Healthcare’s earnings. The highest sales estimate is $4.99 billion and the lowest is $4.90 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 8.8%. The firm is expected to report its next earnings report after the market closes on Thursday, November 2nd.
According to Zacks, analysts expect that Molina Healthcare will report full year sales of $4.95 billion for the current financial year, with estimates ranging from $19.53 billion to $19.98 billion. For the next financial year, analysts anticipate that the company will report sales of $20.75 billion per share, with estimates ranging from $19.71 billion to $21.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Molina Healthcare.
Molina Healthcare (NYSE:MOH) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ 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 negative net margin of 1.07% and a positive return on equity of 16.10%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 earnings per share.
A number of research firms have weighed in on MOH. BMO Capital Markets began coverage on shares of Molina Healthcare in a research note on Monday. They issued a “market perform” rating and a $70.00 target price on the stock. Jefferies Group LLC boosted their target price on shares of Molina Healthcare from $60.00 to $64.00 and gave the company a “hold” rating in a research note on Friday, October 13th. Zacks Investment Research cut shares of Molina Healthcare from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Mitsubishi UFJ Financial Group began coverage on shares of Molina Healthcare in a research note on Thursday, September 21st. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Molina Healthcare from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $65.00 to $68.00 in a research note on Thursday, August 17th. Four 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 company. The stock currently has an average rating of “Hold” and an average target price of $62.23.
Molina Healthcare (NYSE:MOH) traded up 1.30% on Tuesday, reaching $64.47. 723,861 shares of the company’s stock traded hands. The stock’s market cap is $3.68 billion. The company’s 50 day moving average is $65.05 and its 200-day moving average is $63.38. Molina Healthcare has a 52-week low of $42.56 and a 52-week high of $72.79.
In other news, insider William Dentino sold 66,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $60.09, for a total value of $3,965,940.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director J Mario Md Molina sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $66.67, for a total transaction of $1,000,050.00. The disclosure for this sale can be found here. In the last three months, insiders sold 390,985 shares of company stock worth $24,741,496. Insiders own 6.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. LS Investment Advisors LLC raised its position in shares of Molina Healthcare by 40.9% in the second quarter. LS Investment Advisors LLC now owns 1,829 shares of the company’s stock valued at $127,000 after purchasing an additional 531 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of Molina Healthcare in the second quarter valued at approximately $136,000. Riverhead Capital Management LLC raised its position in shares of Molina Healthcare by 64.2% in the second quarter. Riverhead Capital Management LLC now owns 2,463 shares of the company’s stock valued at $170,000 after purchasing an additional 963 shares during the period. Bronfman E.L. Rothschild L.P. raised its position in shares of Molina Healthcare by 478.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,316 shares of the company’s stock valued at $229,000 after purchasing an additional 2,743 shares during the period. Finally, Teacher Retirement System of Texas bought a new stake in shares of Molina Healthcare in the second quarter valued at approximately $241,000. 96.04% of the stock is currently owned by institutional investors.
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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