A 30-day online replay will be available approximately an hour following the conclusion of the live broadcast. Update your contact information. (In millions, except per diluted share amounts). Mark brings decades of experience in the managed care and financial services fields with significant roles at Aetna and GE Capital. UNAUDITED CONSOLIDATED STATEMENTS OF INCOME, Diluted weighted average shares outstanding, Prepaid expenses and other current assets, Property, equipment, and capitalized software, net, Accounts payable, accrued liabilities and other, Common stock, $0.001 par value, 150 million shares authorized; outstanding: 58 million shares at each of March 31, 2023 and December 31, 2022, Preferred stock, $0.001 par value; 20 million shares authorized, no shares issued and outstanding, Total liabilities and stockholders equity, UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. Watch these short videos that put it all together, including helpful tips for what to do first! We want you to know that we are here to help. Molina Healthcare also offers Marketplace plans to remove financial barriers and enable its Medicaid members to stay with their providers as they transition between Medicaid and the Marketplace. Premium revenue was $7.9 billion for the first quarter of 2023, an increase of 5% compared to the first quarter of 2022. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. We use cookies on our website. This website does not display all Qualified Health Plans (QHPs) available through HealthCare.gov. The stock has a market capitalization of $17.41 billion, a P/E ratio of 20.34, a PEG ratio of 1.08 and a beta of 0.70. To see all available QHP options, go to the Health Insurance Marketplace website at HealthCare.gov. more news. Providing quality health care for over 40years. The Medicaid MCR for the full year was 88.0%, at the low end of the Companys long-term target range and consistent with pre-pandemic levels. Molina Healthcare, Inc. provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces. Thats why the Centers for Disease Control and Prevention recommends a flu shot for all adults and children over six months. 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. Molina Healthcare served approximately 5.3 million members as of March 31, 2023, located across 19 states. 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. Adjusted net income per diluted share represents adjusted net income divided by weighted average common shares outstanding on a fully diluted basis. Cookies are used to improve the use of our website and analytic purposes. The Company increased its full year 2023 adjusted earnings per share guidance to at least $20.25, compared to the previous guidance of at least $19.75 per diluted share. The firm's revenue was up 4.9% compared to the same quarter last year. About Molina Healthcare. Healthcare providers can use provider.molinahealthcare.com for service. The institutional investor owned 216,426 shares of the company's stock after selling 4,331 shares during the period. The Medicare MCR for the first quarter of 2023 was 88.0%, in line with the Companys expectation and long-term target range. Find, self-refer, or apply for the services you need, right from your MyMolina member portal. RECONCILIATION OF UNAUDITED NON-GAAP FINANCIAL MEASURES (CONTINUED). View which stocks are hot on social media with MarketBeat's trending stocks report. What If We Had a 15-Minute City for Friendship? Adjusted net income for the full year was $17.92 per diluted share, compared to $13.54 per diluted share for the full year 2021, an increase of 32%. The Arizona Health Care Cost Containment System (AHCCCS), Division of Health Care Management (DHCM), is in receipt of the Change in Organizational Structure: Transition Plan . You want to enroll members of your household in dental coverage. They are available Monday through Friday from 8:00 a.m. to 6:00 p.m., except South Carolina state holidays. Can Molina Healthcare Sustain Its Market-Beating Rally? Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. Molina Healthcare is a FORTUNE 500 company that is focused exclusively on government-sponsored health care programs for families and individuals . The Company believes that adjusted net income is helpful to investors in assessing the Companys financial performance. For more information about Molina Healthcare, please visit molinahealthcare.com. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 1.47. Insight into market share and brand performance. In October, The MolinaCares Accord in collaboration with Molina Healthcare of New Mexico launched its MolinaCares for Families initiative with an initial commitment of over $400,000 to improve access to care for families across New Mexico. James Woys is chief operating officer and senior executive vice president for Molina Healthcare, Inc. Here are some next steps to help you get started. 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. Overnight on Wall Street is daytime in Asia. By using our website, you consent to our use of cookies in accordance with our Privacy Policy. Mark earned his Bachelors Degree from Lehigh University and a Masters Degree in Business Administration from the Tuck School of Business at Dartmouth College. Please select one of the states in which Molina Healthcare provides services. Your password must be at least 8 characters long and contain at least 1 number, 1 letter, and 1 special character. Premium revenue for the full year is expected to be approximately $32 billion, an increase of approximately 4% from the full year 2022. Computations assume approximately 58.1 million diluted weighted average shares outstanding. View source version on businesswire.com: https://www.businesswire.com/news/home/20230208005859/en/, Investor Contact: Joseph Krocheski, [email protected], 562-951-8382 From start-ups to market leaders, uncover what they do andhow they do it. The Company calculates Days in Claims Payable using claims incurred but not paid, or IBNP, and other fee-for-service payables included in medical claims and benefits payable, and quarterly fee-for-service related costs included in medical care costs within the Companys consolidated financial statements. Molina Healthcare is headquartered in Long Beach, California, the US. Allianz Asset Management GmbH now owns 11,534 shares of the company's stock worth $3,848,000 after purchasing an additional 9,599 shares during the last quarter. Molina Healthcare, Inc. engages in the provision of health care services. Molina Healthcare had a return on equity of 36.20% and a net margin of 2.64%. He began his career at Coopers & Lybrand, becoming a partner of the firms national insurance practice. Molina Healthcare, Inc. (NYSE: MOH) (the Company) today reported fourth quarter 2022 GAAP earnings per diluted share of $0.96 and adjusted earnings per diluted share of $4.10. See the Reconciliation of Unaudited Non-GAAP Financial Measures at the end of this release. Group 3,4,5 Annual Filings Current Reports Mergers & Acquisitions Other Proxy Filings Quarterly Filings Registration Statements. Israel Quietly Embeds AI Systems in DeadlyMilitary Operations, DeSantis Group Attacks Trump Directly for the First Time in Iowa Ad, Schwarzenegger Came to Washington to Talk Climate Change With McCarthy, White House, Apollo Global Builds Team to Target Worlds Top Family Offices, Marriott Aimsfor Las Vegas Strip With MGM Resorts Loyalty Pact, More Money Is Coming to New American Cricket League, Anurag Jain Says, The 13 Best Sunscreens for Every Need, From Mineral to Kid-Friendly, US, Japan and Australia Can AidTaiwan With Words, Not War, Disney EnteringAmbanis India Orbit Is a Worry, Stocks Took an 18-Month Round Trip From Tech Bear to AI Bull. Before you consider Molina Healthcare, you'll want to hear this. It employs member-centered healthcare approach for people who are eligible for both Medicaid and Medicare for facilitating high quality care to address individual specific needs. While Molina Healthcare currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. 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. 95.09% of the stock is currently owned by hedge funds and other institutional investors. LONG BEACH, Calif.--(BUSINESS WIRE)--Apr. Continued realization of embedded earnings; Underlying organic growth and operational catalysts; and. 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 . Income tax effect calculated at the statutory tax rate of approximately 23.7%. Find low- and no-cost resources in your community with Molina Help Finder. You want to enroll members of your household in dental coverage. The company was founded in 1980 and is headquartered in Long Beach, California. Talk to your health care provider about getting a flu shot today. Actual results could differ materially due to numerous known and unknown risks and uncertainties. Operating cash flow for the first quarter of 2023 was $916 million, compared to $363 million in the first quarter of 2022. You will receive a member welcome kit and your member ID card within 15 days after you have enrolled with Molina Healthcare**. The Company also reported full year 2022 GAAP earnings per diluted share of $13.55 and adjusted earnings per diluted share of $17.92. (2) Reconciliations of non-GAAP financial measures at the end of this release. 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. Find out at TruConnect.com/Molina. More perks. Media Contact:Caroline Zubieta, [email protected], 562-951-1588, Molina Healthcare Reports First Quarter 2023 Financial Results, Committee Charters & Governance Documents, https://www.businesswire.com/news/home/20230426005700/en/, The Company increased its full year 2023 adjusted earnings guidance to at least. The consolidated MCR for the full year was 88.0%, compared to 88.3% for the full year 2021. 07/13/2023. Signing up is easy. Molina Healthcare of Wisconsin Donates Refrigerator to Food Pantry. Cash and investments at the parent company were $283 million as of March 31, 2023, compared to $375 million as of December 31, 2022. Enroll with Molina Medicare Advantage to get additional benefits and find more ways to save. We want you to know that we are here to help. MOLINA HEALTHCARE, INC.CHANGE IN MEDICAL CLAIMS AND BENEFITS PAYABLE The three months ended March 31, 2022 includes certain non-recurring costs associated with disposal of fixed assets. 07/28/2021. Attention: This website is operated by Molina Healthcare, Inc. and is not the Health Insurance Marketplace website at HealthCare.gov. The G&A ratio for the full year was 7.2%, compared to 7.4% for the full year 2021. Watch these short videos that put it all together, including helpful tips for what to do first! MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on and Molina Healthcare wasn't on the list. Register for My Molina. Have you found what you were looking for? Get daily stock ideas from top-performing Wall Street analysts. Fiera Ca Adjusted net income per diluted share represents adjusted net income divided by weighted average common shares outstanding on a fully diluted basis. Molina Healthcare served approximately 5.3 million members as of December 31, 2022, located across 19 states To see all exchange delays and terms of use please see Barchart's disclaimer. We want you to know that we are here to help. Click here for a payment form. as a comapny great and the way how they offer health insurance. The Companys reserving methodology is consistently applied across all periods presented. These non-GAAP financial measures, presented below, should be considered as supplements to, and not as substitutes for or superior to, GAAP measures. Get gift cards to help with back to school! Improve competitive bidding with insights into all publicly disclosed IT services contracts for Molina Healthcare Inc (including IT outsourcing, business process outsourcing, systems integration & consulting and more). You can view your member materials, change your doctor, view service history and request a new ID card. Molina Healthcare had a trailing twelve-month return . Wenn Sie Ihre Auswahl anpassen mchten, klicken Sie auf Datenschutzeinstellungen verwalten. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz- und Cookie-Einstellungen oder Datenschutz-Dashboard klicken. Before that, he held leadership roles at WellCare, Blue Shield of California, UnitedHealth Group and Oxford Health Plans. Five stocks we like better than Molina Healthcare. 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. Molina Healthcare is a FORTUNE 500, multi-state health care organization. Unable to take your feedback now, Please try again later. Marc earned his bachelors degree from the University of Connecticut and his masters degree in business administration from the University of Marylands Robert H. Smith School of Business. Please write your subscriber/account number on your check/money order. To protect our employees during this time of crisis, we have temporarily moved to a remote workforce. In prior roles at Molina, Mark served as the Executive Vice President of Strategic Planning, Corporate Development and Transformation for Molina Healthcare. Amid the Crypto Crackdown? Not a Molina Healthcare member yet? Weitere Informationen darber, wie wir Ihre personenbezogenen Daten nutzen, finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. We ask for your patience and understanding. This earnings release and the Companys accompanying oral remarks contain forward-looking statements regarding its 2023 guidance, including the Companys plans and expectations regarding future developments. Manage your health care online with My Molina! Unable to take your feedback now, Please try again later. Back-to-School - Earn a Member Reward for Getting a Well-Care Visit! Molina Healthcare, Inc. (NYSE: MOH) (the Company) today reported first quarter 2023 GAAP earnings per diluted share of $5.52 and adjusted earnings per diluted share of $5.81. 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"). Please send any questions or comments about this story to [email protected]. Operating cash flow for the full year was $773 million, lower compared to the full year 2021. The Company arranges for the delivery of health care services to persons eligible for healthcare programs for low-income families . It operates through the following segments: Medicaid, Medicare, Marketplace, and Other. Once you become a member, your coverage will include non-prescription OTC health and wellness items like vitamins, sunscreen, pain relievers, cough and cold medicine, and bandages. The fund owned 100,637 shares of the company's stock after selling 17,800 shares during the quarter. Marc has more than two decades of experience in managed care. We want you to know that we are here to help. Included in the full year MCR was a 10 basis point impact for the net effect of COVID. Are you going through a tough time, feeling anxious, sad or showing signs of depression? You can also call South Carolina Healthy Connections Choices at (877) 552-4642 to enroll by phone. Health Care Professionals Click Here. Besides offering its services through its own clinics the organization serves families and individuals eligible for government-sponsored programs; and offers healthcare services to independent physicians and groups, hospitals, ancillary providers through contracts. Joseph Zubretsky. Molina Healthcare is monitoring Coronavirus Disease 2019 (COVID-19) developments on a daily basis. Morgan Stanley reissued an "overweight" rating and issued a $365.00 price objective on shares of Molina Healthcare in a report on Friday. Case Summary. In his prior role at Molina, Jim served as the executive vice president, health plan services. The higher premium revenue reflects the impact of acquisitions and increased organic membership in the Medicaid and Medicare lines of business. Jim earned his bachelors degree from Arizona State University and his masters degree in business administration from Golden Gate University. The Marketplace MCR for the full year 2022 was 87.2%, above the Companys long-term target range and included 120 basis points for the impact of the net effect of COVID. The MolinaCares Accord Invests Over $430,000 to Improve Access to Care and Health Outcomes for the City of Petersburg. [email protected] 2015: Molina Healthcare acquires Providence Human Services and Community Services, now known as Pathways by Molina. View 3 Oil Stocks to Buy Before the Price of Crude Takes Off, View Nio Inc - (NYSE:NIO) Shares Bought by DekaBank Deutsche Girozentrale, View ARKK: The Pros and Cons Of Buying Into Cathie's Best-Known ETF, View Alibaba Just Flashed Green, Very Green, View Wells Fargo's Earnings, Why Markets Are Loving The Stock, View This Autonomous Vehicle Stock Doubled in June and May Do It Again. Once you receive your Member ID Card, create an account on the My Molina member portal to . This case was filed in Los Angeles County Superior Courts, Spring Street Courthouse located in Los Angeles, California. 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.47 and a current ratio of 1.47. Also, you should visit the Health Insurance Marketplace website at HealthCare.gov if: We appreciate your feedback about our website. 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. Handelsbanken Fonder AB owned about 0.17% of Molina Healthcare worth $26,919,000 at the end of the most recent reporting period. Molina Healthcare, Inc., a FORTUNE 500 company (currently ranked 125), provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces. A telephonic replay of the conference call will be available through Thursday, February 16, 2023, by dialing (877) 344-7529 and entering confirmation number 8594444. Lower cost. Please enter all the mandatory fields for the form to be submitted, For questions or comments about your coverage, or for more information, please, Molina Healthcare Medical Insurance Marketplace, Are you eligible? 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. Molina Healthcare is committed to helping you take charge of your health. To see all available QHP options, go to the Health Insurance Marketplace website at HealthCare.gov. It operates in four segments, Medicaid, Medicare, Marketplace, and Other. Molina Healthcaren it's a great place to work (Former Employee) - 8200 NW 33rd St Ste-400 Doral Florida 33122 - May 26, 2020. workplace with a lot variaty of cultur, and allow employee to work happy. Molina Healthcare offers health plans in California, Washington, Utah, and Michigan, as well as primary care clinics located in Northern and Southern California. New suite of research tools just released to All Access subscribers for 50% off! The MolinaCares Accord and Community Partners Team up to Fight Homelessness in Lake Elsinore. Nvidia Invested $50 million into This AI Drug Discovery Biotech, eBay Steps Aboard the AI Bandwagon with Certilogo Acquisition, How the NASDAQ 100 Special Rebalancing Will Hurt Performance, 3 Dividend Stocks That Still Make Sense in 2023, United Health Stock Is Flying, It May Only Be The Beginning, Investors Like Adobe's Potential To Leverage Generative AI, Humana's Fall Creates A Rare dip Buying Opportunity. During this time you may experience longer wait times on our phone lines. 2023 Molina Healthcare, Inc. All rights reserved. Unable to take your feedback now, Please try again later. You want to select a catastrophic health plan. The consolidated MCR for the first quarter of 2023 was 87.1%, reflecting continued strong medical cost management. This earnings release and the Companys accompanying oral remarks contain forward-looking statements regarding its 2023 guidance, including the Companys plans and expectations regarding future developments. The stock has a 50-day simple moving average . Markets never sleep, and neither does Bloomberg. Unlock Molina Healthcare Inc profile and new opportunities for your business. The company served in across 19 states. Please select one of the states in which Molina Healthcare provides services. About Molina Healthcare. Protecting yourself from the flu is more important than ever. Cookies are used to improve the use of our website and analytic purposes. By using our website, you consent to our use of cookies in accordance with our Privacy Policy. 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. Adjusted G&A Ratio represents the GAAP G&A ratio, recognizing adjustments. 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 live audio broadcast of this conference call will be available on Molina Healthcares website, molinahealthcare.com. He joined the company as executive vice president and chief financial officer, and was responsible for all aspects of financial management, including business development initiatives. IT Client Prospector provides intelligence on Molina Healthcare Incs likely spend across technology areas enabling you to understand the digital strategy. 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, Common stock withheld to settle employee tax obligations, Contingent consideration liabilities settled, Proceeds from senior notes offering, net of issuance costs, Net (decrease) 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. If you have questions about coverage, please call Member Services. The Arizona Health Care Cost Containment System (AHCCCS), Division of Health Care Management (DHCM), has reviewed the Change in Organizational Structure: Request for Approval and Transition Plan submitted by Magellan Complete Care of Arizona, Inc. (MCC), detailing the acquisition of MCC by Molina Healthcare, Inc. (Molina). Thank you for your email received on July 27, 2021. About Molina Healthcare. Long Beach-based managed care giant Molina Healthcare Inc. has agreed to buy the California Medicare business of Bright Health Group for $510 million.The stock-based transaction with Minneapolis . The Company believes that adjusted net income is helpful to investors in assessing the Companys financial performance. AHCCCS has Learn More. To protect our employees during this time of crisis, we have temporarily moved to a remote workforce. Joe earned his bachelors degree in business administration from the University of Hartford. Days in claims payable at March 31, 2023, was 48, compared to 47 at December 31, 2022. (In millions, except per diluted share amounts). The Company purchased approximately 590,000 shares for $200 million in the fourth quarter of 2022. <link rel="stylesheet" href="styles.d344de1a580bada9.css"> <iframe src="https://www.googletagmanager.com/ns.html?id=GTM-NNTKTPX" height="0" width="0" style="display . Adjusted after-tax margin represents adjusted net income, divided by total revenue. Prior to joining Molina, he served as president and chief executive officer for the Hanover Insurance Group. The organization provides Medicare Advantage plans free of cost to address the healthcare requirements of individuals with Medicare or both Medicaid and Medicare coverage. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995. To protect our employees during this time of crisis, we have temporarily moved to a remote workforce. Cetera Investment Advisers raised its stake in shares of Molina Healthcare by 10.1% in the first quarter. 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). Is the Microsoft Deal Driving Applied Optoelectronics 300% Gain? Jim also served as Health Nets president of government and specialty services where he helped reprocure contracts and grow three operating segments covering more than 3 million lives. The non-GAAP financial measures are also used internally to enable management to assess the Companys performance consistently over time. He also served as senior executive vice president of National Businesses, Aetnas largest flagship business unit with $10 billion in revenues. Reflects non-recurring costs associated with acquisitions, including various transaction and certain integration costs. Premium revenue was $30.9 billion for the full year, an increase of 15% compared to the full year 2021. Fiera Capital Corp lessened its holdings in Molina Healthcare, Inc. (NYSE:MOH - Free Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. During this time you may experience longer wait times on our phone lines. Learn More. Molina Healthcare, Inc., a FORTUNE 500 company (currently ranked 125), provides managed healthcare services under the Medicaid and Medicare programs and through the state insurance marketplaces.
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