Molina Healthcare (MOH) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $0.67 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.53. The company posted revenue of $4359.00 million in the period, compared to analysts expectations of $4356.07 million. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.
Many Wall Street Analysts have commented on Molina Healthcare. Molina Healthcare was Downgraded by Goldman to ” Sell” on May 4, 2016. Molina Healthcare was Downgraded by BofA/Merrill to ” Underperform” on Apr 29, 2016. Shares were Reiterated by Stifel on Apr 29, 2016 to “Buy” and Lowered the Price Target to $ 64 from a previous price target of $83 .
Molina Healthcare opened for trading at $53.37 and hit $59.66 on the upside on Thursday, eventually ending the session at $57.21, with a gain of 13.09% or 6.62 points. The heightened volatility saw the trading volume jump to 43,16,859 shares. Company has a market cap of $3,237 M.
In a different news, on Apr 12, 2016, Ronna Romney (director) sold 250 shares at $62.80 per share price. According to the SEC, on Mar 22, 2016, John C Molina (CFO) sold 19,678 shares at $63.56 per share price. On Mar 7, 2016, Steven J Orlando (director) sold 2,500 shares at $63.54 per share price, according to the Form-4 filing with the securities and exchange commission.
Molina Healthcare Inc. provides health care to those receiving Government assistance. The Company offers Medicaid-related solutions for low-income families and individuals and assists state agencies in their administration of the Medicaid program. The Company operates through two segments: Health Plans segment and Molina Medicaid Solutions segment. The Companys Health Plans segment consists of health plans in around 11 states and includes its direct delivery business. The Companys direct delivery business consists primarily of the management of a hospital in southern California and the operation of primary care clinics in several states in which the Company operates. The Companys Molina Medicaid Solutions segment provides business processing and information technology development and administrative services to Medicaid agencies in Idaho Louisiana Maine New Jersey West Virginia and the United States Virgin Islands and drug rebate administration services in Florida.