Molina Healthcare
Runs Medicaid, Medicare and Marketplace health plans through state contracts and regulated insurance markets.
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Profile
Operates government-sponsored managed-care plans across Medicaid, Medicare and Marketplace programs in the United States. Revenue comes primarily from premiums tied to state contracts and regulated insurance markets, while growth combines procurement wins, local plan start-ups and acquisitions.
Operates Medicaid, Medicare and Marketplace health plans for members in the United States. The business arranges care through regulated managed-care plans, with an operating perimeter focused on government-funded or government-subsidized coverage.
Growth combines state procurement wins and renewals, local plan start-ups after awards, and acquisitions of plans or government-program contract assets. That model requires local operating readiness and continuing authorization to serve each market.
Execution centers on administering benefits and provider networks while managing premiums against medical utilization and member acuity. State contracts typically run for limited terms and may permit termination; care authorization remains subject to federal and state oversight. Premium-rate updates can also lag changes in medical costs.
Company facts
Key statistics
Year to date +12.1% · Average volume (30d) 1.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 28, 2026 | Wells Fargo | Reiterate | Equal Weight | $235 | $220 |
| Jul 24, 2026 | RBC Capital | Reiterate | Sector Perform | $248 | $218 |
| Jul 24, 2026 | Barclays | Reiterate | Underweight | $184 | $180 |
| Jul 14, 2026 | Truist Financial | Target | $205 | $250 | |
| Jul 14, 2026 | Jefferies | Target | $160 | $230 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $1.39 | $1.51 | +8.6% | $10.83B | $10.87B | +0.4% | −9.67% |
| Apr 22, 2026Q1 FY26 | $1.57 | $2.35 | +49.7% | $10.87B | $10.80B | −0.7% | +14.18% |
| Feb 5, 2026Q4 FY25 | $0.43 | −$2.75 | −739.5% | $10.88B | $11.38B | +4.6% | −25.51% |
| Oct 22, 2025Q3 FY25 | $3.97 | $1.84 | −53.7% | $11.29B | $11.48B | +1.7% | −17.49% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $11.15B | $11.43B | $11.48B | $11.38B | $10.80B | $10.87B | |
| Gross profit | $1.28B | $1.17B | $927.0M | $2.56B | $1.02B | $10.87B | |
| Operating income | $433.0M | $373.0M | $137.0M | −$162.0M | $176.0M | $145.0M | |
| Net income | $298.0M | $255.0M | $79.0M | −$160.0M | $14.0M | $60.0M | |
| Diluted EPS | $5.45 | $4.74 | $1.50 | −$2.77 | $0.27 | $1.19 | |
| Gross margin | 11.5% | 10.2% | 8.1% | 22.5% | 9.5% | 100.0% | |
| Operating margin | 3.9% | 3.3% | 1.2% | -1.4% | 1.6% | 1.3% |
Fiscal years (4-quarter sums)FY21 $27.77B · FY22 $31.97B · FY23 $34.07B · FY24 $40.65B · FY25 $45.43B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $8.92B · Total debt $3.95B · Total assets $16.00B · Shareholders' equity $4.17B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 52.20M · Float 48.58M · 93.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 6.57M | 12.59% | 13F | Aug 7, 2026 |
| AQR Capital Management LLC | 3.56M | 6.82% | 13F | Aug 14, 2026 |
| Vanguard Portfolio Management LLC | 2.79M | 5.35% | 13F | Aug 13, 2026 |
| Capital World Investors | 2.56M | 4.91% | 13F | Aug 12, 2026 |
| Exor Capital LLP | 2.51M | 4.81% | 13F | Jul 29, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 14, 2026 | Maurice Hebert | officer: Chief Accounting Officer | −600 | $191.55 |
| May 11, 2026 | Jeff D. Barlow | officer: Chief Legal Officer | −17,811 | $186.12 |
| Mar 12, 2026 | Ronna Romney | director | −506 | $146.92 |
| Feb 11, 2026 | Richard C. Zoretic | director | +800 | $125.16 |
| Nov 24, 2025 | Richard M. Schapiro | director | −357 | $143.02 |
Peers
- Centene
Largest overlap across Medicaid, Marketplace, and Medicare
- Elevance Health
Large-scale rival in Medicaid, Medicare, and ACA individual plans
- UnitedHealth Group
National Medicaid and Medicare rival with broad government reach
- CVS Health
Aetna-based competitor across Medicaid and Medicare programs
- Humana
Medicare-focused rival with expanding state-based Medicaid reach
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Molina Healthcare | $200.00 | −0.01% | $10.44B | 1,052.6 | 28.5 | 0.2 | −4.8% |
| Centene | $64.94 | +0.28% | $31.99B | — | 14.3 | 0.2 | +9.9% |
| Elevance Health | $397.30 | +0.72% | $85.54B | 17.5 | 14.5 | 0.4 | +0.1% |
| UnitedHealth Group | $392.50 | −0.12% | $356.86B | 25.3 | 18.4 | 0.8 | +0.4% |
| CVS Health | $93.07 | +0.02% | $118.74B | 24.6 | 11.5 | 0.3 | +7.3% |
| Humana | $386.23 | +0.16% | $46.30B | 36.5 | 31.2 | 0.3 | +26.2% |
| Median | 24.9 | 14.5 | 0.3 | +7.3% |