At the end of the first quarter, Decade Capital held 242,121 shares of Molina Healthcare, Inc. (NYSE:MOH) valued at $16.29 million, down from the 310,000 shares it held at the end of the previous quarter. The ambulatory health services provider recently announced the pricing of 5 million shares of common stock at $67.75, with the proceeds being targeted for financing some of the company’s corporate functions, funding acquisitions, and repayment of debts, among other activities. In an expansion plan, and towards strengthening its medicare business, Molina Healthcare, Inc. (NYSE:MOH) announced plans to acquire parts of HealthPlus Insurance Co. According to the company’s most recent earnings results, its net income increased a whopping 525.90% compared to the respective quarter the previous year, while the company’s revenue growth also grew by a solid 53.3%, beating the industry average of 13.2%. Molina Healthcare, Inc. (NYSE:MOH) posted earnings per share of $0.56, beating analysts’ consensus estimate by $0.06. On a longterm basis of between three to five years, analysts expect the stock to register earnings per share of $24.33, which ranks it among the stocks analysts are most optimistic about in the sector in terms of growth. As of March 31, a total of 22 hedge funds were invested in the stock, having an aggregate investment value of $464.55 million. Some of these hedge funds are Samuel Isaly‘s OrbiMed Advisors, Englander’s Millennium Management, and billionaire Jim Simons’ Renaissance Technologies.
Decade Capital owned 389,735 shares of WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX) with a market value of $15.11 million as of the latest 13F reporting period, it being one of the fund’s new purchases for the quarter. The biotechnology, pharmaceutical, and medical device R&D outsourcing company mainly has operations in China and the U.S, with the company having been working on ways to expand its operations in the latter. Last year, the Shanghai-based company acquired XenoBiotic Laboratories, Inc. towards expanding its laboratory testing operations in the U.S. Earlier this year, the company also acquired U.S.-based genomic analysis and bioinformatics company NextCODE Health for $65 million. Together with other companies, WuXi PharmaTech (Cayman) Inc. (ADR) (NYSE:WX) made a proposal to acquire U.S. Innovative Biotechnology Company Ambrx Inc. in a deal that’s expected to be finalized in the current quarter, provided they receive the necessary regulatory approvals. The company posted earnings per share of $0.36, beating the $0.32 expected by analysts. In terms of revenue, a year-over-year comparison showed that its revenue grew by 22.7%. Out of the 730 actively reporting hedge funds that we tracked during the first quarter, 17 of them had stakes in the company at the end of the quarter, with their total investment valued at $114.92 million. A few of the funds that had stakes in the stock are Millennium Management, Dmitry Balyasny’s Balyasny Asset Management, and Visium Asset Management.
Disclosure: None
