Molina Healthcare, Inc.’s MOH fourth-quarter 2019 adjusted earnings of $2.73 per share surpassed the Zacks Consensus Estimate by 4.2% on the back of declining expenses. However, the bottom line fell 29.6% year over year, mainly due to lower revenues.Also, total revenues of $4.2 billion came almost in line with the Zacks Consensus Estimate. However, the top line was down 8.4% year over year, mainly due to loss of Medicaid membership.Molina Healthcare, Inc Price, Consensus and EPS Surprise Molina Healthcare, Inc price-consensus-eps-surprise-chart | Molina Healthcare, Inc QuoteQuarterly Operational UpdateThe company’s net income totaled $168 million, down 16.4% year over year.Total operating expenses decreased 7.1% year over year to $4 billion. This improvement was attributable to lower Medical care costs and null cost of service revenues.For the quarter under review, medical care cost was down 6.1% year over year to nearly $3.5 billion.Molina Healthcare’s interest expenses dropped 16.7% year over year to $20 million owing to constant repayment of convertible notes.Total membership by Government Program for 2019 stands at 3.3 billion, down 12.8% year over year.Financial UpdateAs of Dec 31, 2019, Molina Healthcare’s cash and cash equivalents saw a reduction of 13.2% to $2.4 billion from the level at 2018 end.Total assets fell 5.1% from the level at 2018 end to $6.7 billion.The company’s shareholder equity improved nearly 19% from the figure at 2018 end to $1.9 billion.For 2019, net cash flow from operating activities stands at $427 million against 2018’s net cash outflow of $314 million.Share Repurchase and Dividend UpdateIn December 2019, the company’s board of directors authorized a share buyback plan of up to $500 million. During the fourth quarter, Molina Healthcare received $305 million of dividends from regulated health plan subsidiaries.2020 GuidanceFollowing fourth-quarter results, the company issued its 2020 outlook. It now expects earnings in the range of $11.20-$11.70 per share.It also projects premium revenue growth of 7.4%.For the current year, the company anticipates its premium revenues to be $17.4 billion and total revenues to be $18.3 billion. Total membership of the company is predicted to be 3.4 million.Full-Year UpdateNet income for the year ended Dec 31, 2019 increased 4.2% year over year to $737 million. Revenues for the year totaled $16.8 billion, down 11% year over year.Zacks RankMolina Healthcare carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Releases From the Medical SectorAmong other players from the medical sector having already reported fourth-quarter earnings, the bottom-line results of UnitedHealth Group Incorporated UNH, Anthem Inc. ANTM topped the respective Zacks Consensus Estimate while that of Centene Corporation CNC missed the same.Zacks Top 10 Stocks for 2020In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.Access Zacks Top 10 Stocks for 2020 today >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report Molina Healthcare, Inc (MOH): Free Stock Analysis Report Centene Corporation (CNC): Free Stock Analysis Report Anthem, Inc. (ANTM): Free Stock Analysis Report To read this article on Zacks.com click here.