Molina shares sink as health insurer cuts profit forecast for third time this year

Core Insights - Molina Healthcare shares experienced a decline of approximately 20% in premarket trading following the company's announcement of a reduced annual profit forecast for the third time this year, attributed to rising medical costs [1] Company Summary - Molina Healthcare has revised its annual profit forecast downward for the third time in 2023, indicating ongoing challenges in managing medical expenses [1] - The significant drop in share price reflects investor concerns regarding the company's financial outlook and operational efficiency in the face of increasing medical costs [1]