Molina Hlthcare Stock Price, News & Analysis

Molina Healthcare, Inc. (NYSE: MOH) announced its upcoming fourth quarter and full-year 2020 earnings release scheduled for February 10, 2021, after market close. A conference call will follow on February 11, 2021, at 8:00 a.m. ET to discuss the results. Molina Healthcare serves approximately 4.0 million members through its Medicaid and Medicare programs as of September 30, 2020. The live conference call can be accessed through the company’s website, with a replay available for 30 days thereafter.

Molina Healthcare (NYSE: MOH) announces the retirement of CFO Tom Tran, effective February 2021. Mark Keim, currently EVP of strategic planning, will succeed him and enhance the company's growth strategy. Tran will assist in the transition until May 2021. Joe Zubretsky, CEO, commended Tran for his contributions, particularly in margin recovery. Keim brings a wealth of experience, having held senior roles at Aetna and GE Capital, making him a strong fit for the CFO position.

Molina Healthcare, Inc. (NYSE: MOH) has successfully closed a private offering of $650 million in 3.875% Senior Notes due 2030. The company will use approximately $346 million of the net proceeds to redeem its existing 4.875% senior notes due 2025, alongside related fees. The remaining funds will support general corporate purposes, including share repurchases and capital contributions to its health plan subsidiaries. The Notes will pay interest semi-annually and mature on November 15, 2030.

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.