Molina Hlthcare Stock Price, News & Analysis

Molina Healthcare reported its second quarter 2021 results, with GAAP earnings per diluted share at $3.16 and adjusted earnings at $3.40. The company experienced a premium revenue increase of 51% to approximately $6.6 billion, serving 4.7 million members. However, net income fell to $185 million, impacted by COVID-19, affecting earnings by approximately $1.00 per share. Molina raised its full-year premium revenue guidance to over $25 billion and adjusted EPS guidance to no less than $13.25.

Molina Healthcare (NYSE: MOH) will release its Q2 2021 earnings after market close on July 28, 2021. A conference call is scheduled for July 29, 2021, at 8:00 AM ET to discuss the results. Investors can join the call by dialing (877) 883-0383 using confirmation number 5686734. A replay will be available until August 12, 2021. Molina serves approximately 4.6 million members through Medicaid and Medicare programs. For more details, visit molinahealthcare.com.

Molina Healthcare (NYSE:MOH) has elected Dr. Stephen Lockhart as an independent director during its annual stockholders’ meeting on May 6, 2021. He replaces Governor Garrey Carruthers, who is retiring after nine years on the Board. Dr. Lockhart brings extensive healthcare experience, having served as chief medical officer for Sutter Health until January 2021. The company believes that Dr. Lockhart’s background will strengthen its leadership and enhance shareholder value as it continues to provide services to approximately 4.6 million members.

Molina Healthcare, Inc. (MOH) reported a strong first quarter for 2021, with GAAP earnings per diluted share of $3.89 and adjusted earnings of $4.44, a 33% and 47% increase year-over-year, respectively. Total revenue reached $6.5 billion, up 43% from 2020, driven by an increase in Medicaid and Marketplace membership, which grew by 1.2 million members to 4.6 million. The company raised its 2021 premium revenue guidance to exceed $24 billion and adjusted EPS guidance to a minimum of $13.00, signaling strong growth prospects despite ongoing pandemic challenges.

Molina Healthcare (NYSE: MOH) has agreed to acquire Cigna's Texas Medicaid and Medicare-Medicaid Plan (MMP) contracts along with certain assets for approximately $60 million. This acquisition serves around 48,000 Medicaid members and 2,000 MMP members, generating about $1.0 billion in premium revenue for 2020. Molina anticipates that this will enhance its service offerings in Texas and contribute positively to its adjusted earnings per share. The deal is subject to regulatory approvals and aims to close in the second half of 2021.

Molina Healthcare (NYSE: MOH) announced its Ohio health plan has been awarded a Medicaid managed care contract by the Ohio Department of Medicaid (ODM) for all three regions in the state. The contract is expected to start in early 2022 and will provide coverage to approximately 3.0 million Medicaid beneficiaries, including families, expansion members, and the aged, blind, or disabled. Molina has served Ohio's vulnerable populations for over 15 years and looks forward to implementing innovative managed care approaches.

Molina Healthcare, Inc. (NYSE: MOH) will release its first-quarter earnings for 2021 on April 28, 2021, after market close. A conference call to discuss the results will be held on April 29, 2021, at 8:00 a.m. ET. Investors can participate by dialing (877) 883-0383 or access a live broadcast on the company's website. The healthcare provider serves approximately 4.0 million members through Medicaid and Medicare programs and state insurance marketplaces. More details are available at molinahealthcare.com.

Molina Healthcare reported a net income of $34 million ($0.56 per diluted share) for Q4 2020, with a full-year net income of $673 million ($11.23 per diluted share). Total revenue increased by 15% to $19.4 billion in 2020, driven by higher premium revenue from Medicaid membership and recent acquisitions. However, the impact of COVID reduced GAAP EPS by $2.30 per diluted share. Looking ahead, the company projects premium revenue growth exceeding 25% in 2021, with adjusted EPS guidance set between $12.50 and $13.00.

Molina Healthcare (NYSE: MOH) has successfully completed its acquisition of the Magellan Complete Care (MCC) business from Magellan Health, Inc. on December 31, 2020. Prior to the acquisition, MCC served around 200,000 members as of November 30, 2020. Molina Healthcare operates managed health care services under Medicaid and Medicare programs and is a FORTUNE 500 company, with approximately 4.0 million members as of September 30, 2020.