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Molina Healthcare, Inc. (MOH - Free Report) recently issued revised fourth quarter and full-year 2016 results. The company released the revised figures because the unaudited report (announced on Feb 15, 2017) did not include the impact of a retroactive contract amendment received in the fourth quarter, which changed the minimum medical loss ratio calculation under California’s Medicaid Expansion program.
We note that the company’s shares have lost almost 18% since the announcement of the unaudited results. The Zacks categorized Health Maintenance Organization industry has gained 0.6% over the same period. However, we expect the company to witness share price appreciation following the release of the revised results.
Per the unaudited results, the company incurred fourth-quarter 2016 net loss per diluted share of $1.64 cents, about 215% wider on a year-over-year basis. Molina Healthcare also reported net income per diluted share of 14 cents in 2016, down 94% year over year, mainly due to declining profitability of the company’s Marketplace program.
Upon including the favorable $68 million pre-tax impact of that retroactive contract amendment, however, the company’s results for both the fourth quarter and the full year showed overall improvement. Net loss per diluted share for the fourth quarter widened 63.5% year over year to 85 cents. Net income per diluted share for the year ended Dec 31, 2016 was 92 cents, down 64% year over year.
AEterna Zentaris delivered positive surprises in the last four quarters with an average beat of 31.7%.
AMN Healthcare delivered positive surprises in the last four quarters with an average beat of 15.8%.
Applied Genetic Technologies delivered positive surprises in the last four quarters with an average beat of 222.92%.
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Molina Healthcare (MOH) Issues Revised Q4 & 2016 Results
Molina Healthcare, Inc. (MOH - Free Report) recently issued revised fourth quarter and full-year 2016 results. The company released the revised figures because the unaudited report (announced on Feb 15, 2017) did not include the impact of a retroactive contract amendment received in the fourth quarter, which changed the minimum medical loss ratio calculation under California’s Medicaid Expansion program.
We note that the company’s shares have lost almost 18% since the announcement of the unaudited results. The Zacks categorized Health Maintenance Organization industry has gained 0.6% over the same period. However, we expect the company to witness share price appreciation following the release of the revised results.
Per the unaudited results, the company incurred fourth-quarter 2016 net loss per diluted share of $1.64 cents, about 215% wider on a year-over-year basis. Molina Healthcare also reported net income per diluted share of 14 cents in 2016, down 94% year over year, mainly due to declining profitability of the company’s Marketplace program.
Upon including the favorable $68 million pre-tax impact of that retroactive contract amendment, however, the company’s results for both the fourth quarter and the full year showed overall improvement. Net loss per diluted share for the fourth quarter widened 63.5% year over year to 85 cents. Net income per diluted share for the year ended Dec 31, 2016 was 92 cents, down 64% year over year.
Zacks Rank and Stocks to Consider:
Molina Healthcare presently carries Zacks Rank #5 (Strong Sell).
Some better-ranked stocks from the medical sector include AEterna Zentaris Inc. (AEZS - Free Report) , AMN Healthcare Services Inc (AMN - Free Report) and Applied Genetic Technologies Corporation . All of these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AEterna Zentaris delivered positive surprises in the last four quarters with an average beat of 31.7%.
AMN Healthcare delivered positive surprises in the last four quarters with an average beat of 15.8%.
Applied Genetic Technologies delivered positive surprises in the last four quarters with an average beat of 222.92%.
The Best Place to Start Your Stock Search
Today, you are invited to download the full list of 220 Zacks Rank #1 "Strong Buy" stocks – absolutely free of charge. Since 1988, Zacks Rank #1 stocks have nearly tripled the market, with average gains of +26% per year. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. See these stocks free >>