Molina shares fall after pressure in Obamacare business
Shares of health insurer Molina Healthcare MOH.N fall 9.3% to $201.19 premarket
The company says its Obamacare Marketplace business came under pressure during Q2 because a larger share of enrollees required costly medical care than it had anticipated
MOH expects a $1.50 per share loss this year from the start of a new Florida Medicaid contract in Q4 and a $1 per share loss tied to the planned Medicare Advantage exit in 2027
Brokerage Guggenheim says "the absence of more material Medicaid upside is likely to weigh on MOH's current premium valuation"
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