Welcome to our dedicated page for Molina Hlthcare news (Ticker: MOH), a resource for investors and traders seeking the latest updates and insights on Molina Hlthcare stock.
Molina Healthcare, Inc. reports developments tied to its managed healthcare business under Medicaid, Medicare and state insurance marketplace programs. Recurring updates include quarterly and annual results, premium revenue, medical care ratio trends, earnings guidance and commentary on state-program rates, medical cost management and product performance.
Company news also covers operating initiatives across Molina's service areas, including access-to-care and home health workforce programs, as well as capital actions such as senior note financing and credit-related activity. Coverage reflects a business model driven by government-program contracts, health plan membership, acquisitions, benefit costs and administrative expense control.
Molina Healthcare (NYSE: MOH) has priced $650 million of senior notes due 2030 in a private offering. The notes, bearing interest at 3.875% per year, are expected to close around November 17, 2020. The net proceeds, estimated at $641 million, will be primarily used to redeem $330 million of existing senior notes due 2025, with the remainder allocated for general corporate purposes, including debt repayment and acquisitions. The notes are not registered under the Securities Act and will not be guaranteed by the company's subsidiaries.
Molina Healthcare (NYSE: MOH) has announced its intention to privately offer $650 million in senior notes due 2030. This offering will target qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. The company plans to use approximately $346 million of the proceeds to redeem its 4.875% senior notes due 2025, with the remainder allocated for general corporate purposes, including debt repayment and capital expenditures. The notes will not be guaranteed by subsidiaries at issuance.
Molina Healthcare (NYSE: MOH) reported a net income of $185 million for Q3 2020, up from $175 million in Q3 2019, translating to $3.10 per diluted share. Adjusted EPS rose to $3.36 from $2.83 a year earlier. Premium revenue increased 16.8% to $4.8 billion, driven by membership growth, notably from acquisitions of Affinity and Passport. MCR improved to 85.9%. The company maintained its 2020 GAAP earnings guidance at $11.20 to $11.70 per diluted share, citing COVID-19's negligible impact on results.
Molina Healthcare (NYSE: MOH) announced it will acquire substantially all assets of Affinity Health Plan for approximately $380 million. The transaction, expected to close in Q2 2021, aims to enhance Molina's service offerings in New York, with Affinity serving around 284,000 Medicaid members and generating $1.3 billion in premium revenue over the past year. The deal is projected to be immediately accretive to adjusted earnings per share and funded by cash on hand.
Molina Healthcare, Inc. (NYSE: MOH) will release its third-quarter 2020 earnings on October 28, after market closure. A conference call to discuss the results is scheduled for October 29 at 8:00 a.m. ET. Interested parties can join by dialing (877) 883-0383, confirmation number 2828216. A replay will be available until November 5. As of June 30, 2020, Molina Healthcare served approximately 3.6 million members, providing managed health care services through Medicaid, Medicare, and state insurance marketplaces.
Molina Healthcare, Inc. (NYSE: MOH) will release its third-quarter earnings results on October 28, 2020, after market close. A conference call to discuss these results is scheduled for October 29, 2020, at 8:00 AM ET. Investors can access the call by dialing (877) 883-0383 and using confirmation number 2828216. A 30-day replay will also be available. As of June 30, 2020, Molina Healthcare serves approximately 3.6 million members through its Medicaid and Medicare programs.
Molina Healthcare (NYSE: MOH) will release its Q2 2020 earnings after market close on July 30, 2020. A conference call to discuss the results will take place on July 31, 2020, at 8:00 a.m. ET. Interested parties can access the call by dialing (877) 883-0383 with confirmation number 8510588. A replay will be available until August 7, 2020. Molina Healthcare, a FORTUNE 500 company, provides managed healthcare services to approximately 3.4 million members as of March 31, 2020.