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. (MOH) delivers managed care solutions for government-sponsored health programs, serving millions through Medicaid, Medicare, and Marketplace plans. This page provides investors and stakeholders with essential updates on operational developments, regulatory compliance, and strategic initiatives shaping this Fortune 500 company's trajectory.
Access timely press releases detailing earnings results, state contract awards, and care delivery innovations. Our repository includes updates on Medicaid expansion efforts, Medicare Advantage plan adjustments, and participation in dual-eligible demonstration projects across 12 states and Puerto Rico.
Key content categories include quarterly financial disclosures, partnership announcements with state agencies, service area expansions, and clinical quality improvement initiatives. All materials are sourced directly from official company communications to ensure reliability.
Bookmark this page for streamlined monitoring of MOH's performance in the $800B+ government healthcare market. Check regularly for updates impacting the company's position in managed care networks and state procurement cycles.
Molina Healthcare (NYSE: MOH) reported strong Q3 2024 financial results with GAAP earnings of $5.65 per diluted share, up 34% year-over-year, and adjusted earnings of $6.01 per diluted share, up 19%. Premium revenue reached $9.7 billion, an 18% increase, driven by new contract wins and acquisitions. The company serves approximately 5.6 million members, an 8% increase from 2023. The Medical Care Ratio was 89.2%, while the G&A ratio improved to 6.5%. Molina reaffirmed its full year 2024 guidance, expecting premium revenue of $38 billion and adjusted earnings of at least $23.50 per diluted share.
Molina Healthcare, Inc. (NYSE: MOH) has announced that its subsidiary, Molina Healthcare of Michigan, has been awarded a contract by the Michigan Department of Health and Human Services (MDHHS) to provide a Highly Integrated Dual Eligible Special Needs Plan (HIDE SNP). This new benefit plan, called MI Coordinated Health, will serve individuals enrolled in both Medicare and Medicaid.
Key points:
- Molina was awarded the contract in six service regions
- The company currently serves two regions in Michigan's existing Health Link program
- The new contract is expected to go live on January 1, 2026
- The contract duration is set for seven years, with three one-year optional extensions
Molina Healthcare (NYSE: MOH) has announced key dates for its third quarter 2024 financial results and investor events. The company will release its Q3 2024 earnings after market close on October 23, 2024, followed by a conference call and webcast on October 24, 2024, at 8:00 a.m. Eastern Time. Investors can access the call by dialing (877) 883-0383 with confirmation number 7014206.
Additionally, Molina will host its 2024 Investor Day on November 8, 2024, in New York City, starting at 9:30 a.m. Eastern Time. The event will be publicly webcast, with in-person attendance by invitation only. Both the earnings call and Investor Day will be available for replay on the company's investor relations website.
Molina Healthcare (NYSE: MOH) has announced an expanded role for Senior Executive Vice President and CFO Mark Keim. In addition to his current responsibilities, Keim will now lead the company's Medicaid Health Plans and Marketplace business. Keim, 59, joined Molina in January 2018 and became CFO in February 2021. CEO Joe Zubretsky praised Keim's leadership in finance, strategic development, and operations, describing the expansion of his role as a natural evolution. Zubretsky also highlighted the strong operating team led by Keim and COO Jim Woys as a key factor in Molina's success.
Molina Healthcare (NYSE: MOH) has announced a contract amendment with President and CEO Joe Zubretsky, securing his leadership through at least the end of 2027. The Board of Directors has awarded Zubretsky, who joined Molina in November 2017, a special one-time stock grant that will vest at the end of 2027, contingent upon achieving certain financial targets. His annual compensation remains unchanged.
Chairman Dale Wolf expressed delight in Zubretsky's continued leadership, citing the company's right strategy, great execution, and significant value creation for shareholders under his tenure. This move demonstrates Molina's commitment to maintaining stable leadership and pursuing long-term financial goals.
Molina Healthcare (NYSE: MOH) announced Q2 2024 financial results, revealing GAAP earnings per diluted share of $5.17 and adjusted earnings of $5.86. Key figures include:
Premium Revenue: $9.4 billion, up 17% YoY.
Total Revenue: $9.88 billion, up from $8.33 billion in Q2 2023.
Net Income: GAAP net income at $301 million, down from $309 million in Q2 2023.
EPS: GAAP EPS at $5.17, down 3% YoY; Adjusted EPS at $5.86, up 4% YoY.
Molina served around 5.6 million members, an 8% increase YoY. The company reaffirmed its full-year 2024 guidance, expecting approximately $38 billion in premium revenue and adjusted EPS of at least $23.50. Notably, the Medical Care Ratio (MCR) stood at 88.6%, with Medicaid MCR at 90.8%, Medicare MCR at 84.9%, and Marketplace MCR at 71.6%.
Molina Healthcare (NYSE: MOH) has announced a definitive agreement to acquire ConnectiCare for $350 million, representing 25% of ConnectiCare's expected 2024 premium revenue of $1.4 billion. ConnectiCare, a leading health plan in Connecticut, serves approximately 140,000 members across Marketplace, Medicare, and certain commercial products. This acquisition expands Molina's presence into Connecticut and is expected to add $1.00 per share to new store embedded earnings.
The transaction aligns with Molina's strategy of acquiring stable revenue streams and deploying capital efficiently. Molina plans to fund the purchase with cash on hand. The deal is subject to regulatory approvals and is expected to close in the first half of 2025.
Molina Healthcare (NYSE: MOH) has been awarded a new Medicaid managed care contract by the Florida Agency for Healthcare Administration (AHCA). The contract, awarded to Molina's subsidiary Molina Healthcare of Florida, Inc., covers Miami-Dade and Monroe Counties and is expected to serve approximately 90,000 Medicaid beneficiaries. The contract term is set to begin on January 1, 2025, and run through December 31, 2030, spanning a six-year period. This new contract represents a significant expansion of Molina's presence in Florida's Medicaid market and potentially strengthens its position in the state's healthcare sector.
Molina Healthcare (NYSE: MOH) has announced its earnings release for the second quarter ending June 30, 2024. The release will occur after market close on Wednesday, July 24, 2024.
A conference call and webcast to discuss these earnings will be held on Thursday, July 25, 2024, at 8:00 a.m. Eastern Time. Interested parties can join the teleconference by dialing (877) 883-0383 and entering the confirmation number, 8508329. For those unable to attend, a telephonic replay will be available until August 1, 2024, by dialing (877) 344-7529 and entering confirmation number, 5266367. Additionally, a live webcast and a 30-day online replay will be accessible via Molina's website.
Molina Healthcare (NYSE: MOH) announced that the Wisconsin Department of Health Services intends to award a new contract for Region 5 to Molina Healthcare of Wisconsin. The contract is set to begin on January 1, 2025, for two years, with options for three, two-year extensions. The program, branded as My Choice Wisconsin, currently serves 5,600 members in the Family Care and Family Care Partnership programs, out of the 55,000 total members in Wisconsin.
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