Molina Healthcare, Inc. - MOH STOCK NEWS

Molina Healthcare has appointed Chris Coffey as president of Molina Healthcare of Texas. Coffey brings 20 years of leadership experience, having previously served as CEO in various healthcare organizations focusing on Medicaid. Marc Russo, Molina's executive vice president, emphasized Coffey's capacity to lead the Texas health plan amid COVID-19 challenges, particularly for underserved communities. Molina Healthcare has provided government-funded healthcare since 2006, serving approximately 4.7 million members as of June 30, 2021.

Molina Healthcare, Inc. (NYSE: MOH) will host a virtual Investor Day on September 17, 2021, at 8:30 a.m. Eastern Time. Interested investors can register for the event at molinahealthcareinvestorday.com. A replay of the meeting will be available online about an hour after it concludes. As of June 30, 2021, Molina Healthcare provided managed services to approximately 4.7 million members under Medicaid and Medicare programs.

Molina Healthcare, Inc. (NYSE: MOH) announced that its Nevada health plan subsidiary was awarded a Medicaid managed care contract by the Nevada Department of Health and Human Services. This four-year contract, with a potential two-year extension, will begin on January 1, 2022. Molina will provide coverage to approximately 630,000 Medicaid beneficiaries in Clark and Washoe Counties and will participate in the state-based Affordable Care Act Exchange. The CEO expressed commitment to enhancing care management and health equity for Medicaid members.

Molina Healthcare (NYSE: MOH) announced a leadership change in investor relations as Senior Vice President, Julie Loftus Trudell, retires after a period of notable success. The company has appointed Joseph Krocheski, effective October 1, 2021, who has 25 years of experience in investor relations and financial management. Ronald Kurtz will act as Interim Head of Investor Relations during the transition. Molina serves about 4.7 million members through Medicaid and Medicare programs.

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.