Molina Hlthcare Stock Price, News & Analysis

Molina Healthcare (NYSE: MOH) announced a private offering of $750 million in senior notes due 2032 under the Securities Act. The proceeds will be used to redeem $700 million of existing senior notes and for general corporate purposes such as debt repayment and capital expenditures. The offering is limited to qualified institutional buyers and excludes U.S. investors unless specific exemptions apply. The Notes will not be guaranteed by subsidiaries at issuance and are subject to customary closing conditions.

Molina Healthcare (NYSE: MOH) reported Q3 2021 GAAP earnings of $2.46 per diluted share and adjusted earnings of $2.83. Premium revenue surged 43% to $6.8 billion, driven by a 20% membership increase. However, net income decreased to $143 million from $185 million year-over-year due to COVID's impact, decreasing EPS by $1.00. The company reaffirmed 2021 premium revenue guidance of at least $26.5 billion and adjusted EPS guidance of no less than $13.25. Notably, Molina acquired AgeWell New York's Medicaid business, enhancing its growth strategy.

Molina Healthcare (NYSE: MOH) announced the closing of its acquisition of Affinity Health Plan on October 25, 2021. As of September 30, 2021, Affinity served approximately 310,000 members. This strategic acquisition aligns with Molina's mission to enhance its managed healthcare services under Medicaid and Medicare, aiming to expand its reach and improve service delivery. Molina Healthcare currently serves about 4.7 million members across various programs.

Molina Healthcare has announced an agreement to acquire the Medicaid Managed Long Term Care business of AgeWell New York for approximately $110 million, net of tax benefits. This acquisition will expand Molina's Medicaid presence in New York, serving about 13,000 members with a potential $700 million revenue base. The transaction is expected to enhance Molina’s profitability and is projected to be accretive to earnings per share, with an anticipated closing by Q3 2022, subject to regulatory approvals.

Molina Healthcare (NYSE: MOH) will release its third-quarter 2021 results after market close on October 27, 2021.

A conference call to discuss the earnings will be held on October 28, 2021, at 8:00 a.m. ET. Interested parties can join by calling (877) 883-0383 with confirmation number 5108692. A replay will be available until November 11, 2021.

As of June 30, 2021, Molina Healthcare served approximately 4.7 million members across its health plans.

Molina Healthcare, Inc. (NYSE: MOH) has amended and restated the employment agreement of President and CEO Joe Zubretsky. Zubretsky has been with Molina since November 2017 and has successfully led a turnaround strategy for the company. The Board's Chairman, Dale Wolf, expressed confidence in Zubretsky's leadership for the company's future growth plans. Molina Healthcare will provide further details on its strategic plan at a virtual investor day scheduled for September 17, 2021. The company serves approximately 4.7 million members through Medicaid and Medicare programs.

Molina Healthcare has appointed Chris Coffey as president of Molina Healthcare of Texas. Coffey brings 20 years of leadership experience, having previously served as CEO in various healthcare organizations focusing on Medicaid. Marc Russo, Molina's executive vice president, emphasized Coffey's capacity to lead the Texas health plan amid COVID-19 challenges, particularly for underserved communities. Molina Healthcare has provided government-funded healthcare since 2006, serving approximately 4.7 million members as of June 30, 2021.

Molina Healthcare, Inc. (NYSE: MOH) will host a virtual Investor Day on September 17, 2021, at 8:30 a.m. Eastern Time. Interested investors can register for the event at molinahealthcareinvestorday.com. A replay of the meeting will be available online about an hour after it concludes. As of June 30, 2021, Molina Healthcare provided managed services to approximately 4.7 million members under Medicaid and Medicare programs.

Molina Healthcare, Inc. (NYSE: MOH) announced that its Nevada health plan subsidiary was awarded a Medicaid managed care contract by the Nevada Department of Health and Human Services. This four-year contract, with a potential two-year extension, will begin on January 1, 2022. Molina will provide coverage to approximately 630,000 Medicaid beneficiaries in Clark and Washoe Counties and will participate in the state-based Affordable Care Act Exchange. The CEO expressed commitment to enhancing care management and health equity for Medicaid members.