In a recent transaction, Ronna Romney, a director of Molina Healthcare, Inc. (NYSE:MOH), sold 250 shares of the company's common stock. The transaction, which took place on May 21, 2024, was executed at a price of $343.27 per share, resulting in a total value of $85,817.50.
This sale was conducted directly and the shares were held by the Ronna Romney Revocable Trust, as indicated by the footnotes in the SEC filing. Following this transaction, the trust still holds a total of 16,945 shares of Molina Healthcare's common stock. The sale was signed off by Jeff D. Barlow, who holds power of attorney for Romney.
Molina Healthcare, a company with a primary focus on hospital and medical service plans, is incorporated in Delaware and headquartered in Long Beach, California. The sale by Romney is part of the routine financial disclosures that directors and other insiders of publicly traded companies are required to make.
Investors often monitor the buying and selling activity of company insiders as it can provide insights into the company's financial health and future prospects. The sale made by Romney is now part of the public record, offering transparency to shareholders and potential investors about the trading activities of Molina Healthcare's directors.
InvestingPro Insights
As a director of Molina Healthcare, Inc. (NYSE:MOH), Ronna Romney's recent sale of company stock may draw investor attention to the company's financial standing and future outlook. To provide a clearer picture, we can look at a few key metrics from InvestingPro. Molina Healthcare boasts a market capitalization of approximately $20.24 billion and has demonstrated robust revenue growth over the last twelve months as of Q1 2024, with an increase of nearly 10%. This growth is further highlighted by an impressive quarterly revenue growth of 20.77% in Q1 2024.
Delving into profitability, Molina Healthcare's adjusted P/E ratio stands at 18.32, which, when paired with a PEG ratio of 0.73, suggests that the stock may be trading at a low price relative to its near-term earnings growth—a potential sign of value for investors. Furthermore, the company's gross profit margin of 12.83% underscores its ability to retain a significant portion of revenue after the cost of goods sold has been accounted for.
Among the InvestingPro Tips, it's noteworthy that Molina Healthcare holds more cash than debt on its balance sheet, which can be a strong indicator of financial resilience. Additionally, the company is recognized as a prominent player in the Healthcare Providers & Services industry and is expected to remain profitable this year. For investors seeking more comprehensive insights, there are 11 additional InvestingPro Tips available, which can be accessed through InvestingPro's platform for a deeper dive into Molina Healthcare's financials and market positioning.
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