Molina Healthcare to Acquire Bright HealthCare's California Medicare Identify stocks that meet your criteria using seven unique stock screeners. Molina Healthcare is committed to helping you take charge of your health. Allianz Asset Management GmbH raised its stake in shares of Molina Healthcare by 496.1% in the first quarter. The stock has a 50-day simple moving average . Jeff has over 33 years of legal experience including counseling clients regarding federal securities laws, corporate governance, mergers and acquisitions, health care regulation, and litigation. AHCCCS has The company served in across 19 states. Please select one of the states in which Molina Healthcare provides services. The company reported $5.81 EPS for the quarter, topping analysts' consensus estimates of $5.13 by $0.68. Before joining Molina Healthcare, he worked for the national law firm of DLA Piper in its corporate securities group. Molina Healthcare | LinkedIn RECONCILIATION OF UNAUDITED NON-GAAP FINANCIAL MEASURES (CONTINUED). We are very pleased with our first quarter results and increased 2023 earnings guidance, said Joseph Zubretsky, President and Chief Executive Officer. Providing quality health care for over 40years. Access more premium companies when you subscribe to Explorer, Contact the team or request a demo to find out how our data can drive your business forward, Transportation, Infrastructure and Logistics, Top 10 General Insurers in the US in 2021 by Written Premiums, Top 10 General Insurers in the World in 2021 by Written Premiums, Gain a 360-degree view of Molina Healthcare Inc and make more informed decisions for your business, 200 Oceangate, Suite 100, Long Beach, California, 90802-4317, Gain access to our premium signals and make informed decisions for your business, Understand Molina Healthcare Inc portfolio and identify potential areas for collaboration, Dive into past operations, including product releases, deals, acquisitions & more, Benchmark the company against the market with exclusive information on key competitors, Chart Financial activity with access to more key stats, Director; President; Chief Executive Officer, Gain insight into Molina Healthcare Inc key executives to enhance your sales strategy, GlobalData Plc 2023 | Registered Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN, UK | Registered in England No. Click here for a payment form. Adjusted net income for the first quarter of 2023 was $5.81 per diluted share, an increase of 19% compared to the first quarter of 2022. Fiera Capital Corp Lowers Stock Holdings in Molina Healthcare, Inc We want you to know that we are here to help. Raymond James Financial Services Advisors Inc. now owns 1,651 shares of the company's stock worth $551,000 after purchasing an additional 89 shares during the last quarter. They are available Monday through Friday from 8:00 a.m. to 6:00 p.m., except South Carolina state holidays. Molina Healthcare (NYSE:MOH - Get Free Report) last announced its quarterly earnings data on Wednesday, April 26th. Get daily stock ideas from top-performing Wall Street analysts. Adjustments to reconcile net income to net cash provided by operating activities: Changes in operating assets and liabilities: Net cash provided by operating activities, Proceeds from sales and maturities of investments, Purchases of property, equipment, and capitalized software, Net cash (used in) provided by investing activities, Common stock withheld to settle employee tax obligations, Contingent consideration liabilities settled, Net increase in cash, cash equivalents, and restricted cash and cash equivalents, Cash, cash equivalents, and restricted cash and cash equivalents at beginning of period, Cash, cash equivalents, and restricted cash and cash equivalents at end of period. Complaints for Molina Healthcare, Inc. - Better Business Bureau A live audio broadcast of this conference call will be available on Molina Healthcares website, molinahealthcare.com. Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2023 and why they should be in your portfolio. IT Client Prospector provides intelligence on Molina Healthcare Incs likely spend across technology areas enabling you to understand the digital strategy. Molina Healthcare serves approximately 5.2 million members eligible for Medicaid, Medicare, and other government-sponsored healthcare programs for low-income families and individuals, including Marketplace . MOLINA HEALTHCARE, INC.CHANGE IN MEDICAL CLAIMS AND BENEFITS PAYABLE View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Adjusted after-tax margin represents adjusted net income, divided by total revenue. Molina Healthcare of Washington AI Can Write, But Is It Any Good at Picking Stocks? Should you invest $1,000 in Molina Healthcare right now? For more information about Molina Healthcare, please visit molinahealthcare.com. He also served as senior executive vice president of National Businesses, Aetnas largest flagship business unit with $10 billion in revenues. The Company arranges for the delivery of health care services to persons eligible for healthcare programs for low-income families . Adjusted net income represents GAAP net income recognizing the adjustments, net of tax. The company was founded in 1980 and is headquartered in Long Beach, California. These risks and uncertainties are discussed under the headings Forward-Looking Statements, and Risk Factors, in the Companys Annual Report on Form 10K for the year ended December 31, 2022, which is on file with the U.S. Securities and Exchange Commission (the SEC), and also in its Quarterly Report on Form 10-Q for the period ended March 31, 2023, which the Company expects to file on or about April 27, 2023. Handelsbanken Fonder AB owned about 0.17% of Molina Healthcare worth $26,919,000 at the end of the most recent reporting period. Please select one of the states in which we provide services. The company served in across 19 states. Find out at TruConnect.com/Molina. Marc Russo is executive vice president, health plans for Molina Healthcare, Inc. As EVP, health plans, Marc has full P&L responsibility for Molinas nationwide health plans. Unable to take your feedback now, Please try again later. The three months ended March 31, 2022 includes certain non-recurring costs associated with disposal of fixed assets. Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs, and through the state insurance marketplaces (the "Marketplace"). Days in claims payable at December 31, 2022 was 47, approximately three days lower sequentially. Adjustments represent additions and deductions to GAAP net income as indicated in the table below, which include the non-cash impact of amortization of acquired intangible assets, acquisition-related expenses, and the impact of certain expenses and other items that management believes are not indicative of longer-term business trends and operations. Please select one of the states in which Molina Healthcare provides services. Investor Relations | Molina Healthcare Inc. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. The Company believes that certain non-GAAP (generally accepted accounting principles) financial measures are useful supplemental measures to investors in comparing the Companys performance to the performance of other public companies in the health care industry. Attention: This website is operated by Molina Healthcare, Inc. and is not the Health Insurance Marketplace website at HealthCare.gov. Mark earned his Bachelors Degree from Lehigh University and a Masters Degree in Business Administration from the Tuck School of Business at Dartmouth College. The Company purchased approximately 590,000 shares for $200 million in the fourth quarter of 2022. FAQs | Molina Healthcare South Carolina During this time you may experience longer wait times on our phone lines. Computations assume approximately 58.1 million diluted weighted average shares outstanding. The higher premium revenue reflects the impact of acquisitions and increased organic membership in the Medicaid and Medicare lines of business. 2015: Molina Healthcare acquires Medicaid assets of Integral Health Plan, Inc. in Florida. Adjusted net income per diluted share represents adjusted net income divided by weighted average common shares outstanding on a fully diluted basis. Getting started with your Molina Benefits is easy with the Quick Start Guide! All rights reserved. Molina Healthcare, Inc., a FORTUNE 500 company, provides managed healthcare services under the Medicaid and Medicare programs, and through the state insurance marketplaces (the Marketplace). The higher premium revenue reflects increased organic membership and the impact of acquisitions in the Medicaid and Medicare lines of business, offset by a decline in Marketplace. Also, you should visit the Health Insurance Marketplace website at HealthCare.gov if: We appreciate your feedback about our website. Filing year - Any - 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002. View source version on businesswire.com: https://www.businesswire.com/news/home/20230426005700/en/, Investor Contact: Joseph Krocheski, Joseph.Krocheski@molinahealthcare.com, 562-951-8382 We use cookies on our website. This documentary-style series follows investigative journalists as they uncover the truth. By using our website, you consent to our use of cookies in accordance with our Privacy Policy. The Companys claims liabilities include additional reserves to account for moderately adverse conditions based on historical experience and other factors including, but not limited to, variations in claims payment patterns, changes in utilization and cost trends, known outbreaks of disease, and large claims. Premium revenue was $7.9 billion for the first quarter of 2023, an increase of 5% compared to the first quarter of 2022. Molina Healthcare is a FORTUNE 500, multi-state health care organization. Molina Healthcare Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: Handelsbanken Fonder AB cut its holdings in Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 15.0% in the first quarter, according to the company in its most recent disclosure with the SEC. MOH | Molina Healthcare Inc. Stock Price & News - WSJ The Companys claims liabilities include additional reserves to account for moderately adverse conditions based on historical experience and other factors including, but not limited to, variations in claims payment patterns, changes in utilization and cost trends, known outbreaks of disease, and large claims. Live market coverage co-anchored from Hong Kong and New York. GAAP net income for the first quarter of 2023 was $5.52 per diluted share, an increase of 26% compared to the first quarter of 2022. Prudential PLC purchased a new position in shares of Molina Healthcare in the first quarter worth about $422,000. Live from New York and Sydney. We ask for your patience and understanding. Before that, he served in senior executive roles at Aetna, one of the nations largest health care benefits and insurance providers, most recently as chief executive officer of its Healthagen Holdings subsidiary. Also, you should visit the Health Insurance Marketplace website at HealthCare.gov if: We appreciate your feedback about our website. Molina Healthcare, Inc., a FORTUNE 500 company, provides managed health care services under the Medicaid and Medicare programs and through the state insurance Marketplace. Cookies are used to improve the use of our website and analytic purposes. Joe earned his bachelors degree in business administration from the University of Hartford. About Molina Healthcare. The impact varied by segment. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. The amounts displayed for Components of medical care costs related to: Prior year represent the amounts by which the original estimates of claims and benefits payable at the beginning of the year were more than the actual liabilities based on information (principally the payment of claims) developed since those liabilities were first reported. A telephonic replay of the conference call will be available through Thursday, May 4, 2023, by dialing (877) 344-7529 and entering confirmation number 5745408. SECs Gensler Says Hes Disappointed With Ripple Ruling on Retail Investors, Crypto Derivatives Show Growing Pessimism Around Binances Token, Cryptos New Favorite Bank Is Reluctant to Accept the Title. 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