Molina Healthcare, Inc. - MOH STOCK NEWS

Molina Healthcare (NYSE: MOH) has received a recommendation from the Indiana Department of Administration to begin contract negotiations for its Indiana health plan. If finalized, Molina will provide risk-based managed care long-term services and supports as part of the Indiana Pathways for Aging LTSS program, serving approximately 100,000 Medicaid LTSS beneficiaries. The proposed contract has a four-year term, with options for two additional one-year renewals. Molina Healthcare currently serves about 5.3 million members as of December 31, 2022.

Molina Healthcare, Inc. (NYSE: MOH) reported strong fourth quarter and full year 2022 results, with premium revenue reaching $30.9 billion, a 15% increase year-over-year. Fourth quarter GAAP earnings per diluted share were $0.96, while adjusted EPS stood at $4.10. The company announced full year 2023 guidance, expecting premium revenue of $32 billion and adjusted EPS of at least $19.75. Key metrics like the Medical Care Ratio (MCR) were stable, with an annual MCR of 88.0%. However, GAAP earnings were impacted by a $159 million impairment charge due to reduced real estate footprint. Molina aims for continued growth driven by new Medicaid contracts and operational efficiencies.

Molina Healthcare (NYSE: MOH) announced it will release its fourth quarter and year-end earnings results for 2022 on February 8, 2023, after market close.

The company will conduct a conference call on February 9, 2023, at 8:00 a.m. ET to discuss the earnings. Investors can access the call by dialing (877) 883-0383. A telephonic replay will be available until February 16, 2023.

Molina Healthcare serves approximately 5.2 million members under Medicaid, Medicare, and state insurance marketplaces.

Molina Healthcare (NYSE: MOH) announced that the California Department of Health Care Services has awarded Medi-Cal contracts effective January 1, 2024, expanding their presence in Riverside, Sacramento, San Bernardino, and San Diego counties, and as a subcontractor in Los Angeles County. Membership is projected to grow from 600,000 to 1.2 million, with annual revenue expected to increase from $1.9 billion to $3.9 billion. An additional D-SNP contract for Los Angeles County is anticipated to generate over $500 million in revenue. A conference call is scheduled for January 3, 2023, for further updates.

Molina Healthcare reported a strong third quarter for 2022, with GAAP earnings per diluted share of $3.95, up 61% year-over-year. Adjusted EPS rose to $4.36, a 54% increase. Premium revenue reached approximately $7.6 billion, marking a 12% rise from Q3 2021. The company increased its 2022 premium revenue guidance to $30.5 billion and adjusted earnings guidance to at least $17.75 per diluted share. As of September 30, Molina served about 5.2 million members, reflecting a 7% growth compared to the previous year.

Connections Health Solutions has appointed Joel Conger as Arizona Market President and Jay Balfour as Senior Vice President and General Counsel, as of October 13, 2022. Conger, with over 25 years of experience, will drive the company's expansion in Arizona's behavioral health services, having previously worked at Molina Healthcare (NYSE: MOH). Balfour brings nearly two decades of legal expertise, focusing on healthcare contracts. Their leadership is poised to enhance operational effectiveness and patient care, aligning with the company's growth strategy.

Molina Healthcare has successfully completed its acquisition of AgeWell New York’s Medicaid Managed Long Term Care (MLTC) business as of October 1, 2022. This strategic acquisition enhances Molina's services and solidifies its market presence, as AgeWell's MLTC business catered to around 13,000 members by September 30, 2022. Molina Healthcare serves approximately 5.1 million members across various states, focusing on Medicaid and Medicare services.

Molina Healthcare, Inc. (NYSE: MOH) announced that its subsidiary, Molina Healthcare of Nebraska, has been selected by the Nebraska Department of Health and Human Services to provide Medicaid services. The new five-year contract begins on January 1, 2024, and will cover approximately 360,000 Medicaid beneficiaries. Molina, ranked 125 in the FORTUNE 500, serves roughly 5.1 million members as of June 30, 2022.

Molina Healthcare of New Mexico has partnered with Pyx Health to enhance behavioral health services for its Medicare members. This initiative aims to address social isolation among seniors, particularly in rural areas, by leveraging the Pyx Health platform. The CDC indicates that social isolation can significantly impact health risks, including increased chances of dementia and heart disease. The platform uses data to monitor emotional states and connects members to support staff for personalized assistance, ultimately enhancing behavioral health outcomes for Molina's members.