Is Molina Healthcare (MOH) an Attractive Investment Choice?

Renaissance Investment Management, an investment management company, released its “Midcap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.43% (net) compared to a -0.65% return for the Russell Midcap Growth Index. A focus on high-quality growth stocks at attractive valuations led the strategy to outperform the index in the quarter. The Consumer Discretionary and Energy sectors significantly contributed to the strategy’s performance while Health Care and Real Estate detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Renaissance Investment highlighted stocks like Molina Healthcare, Inc. (NYSE:MOH) in its Q3 2022 investor letter. Headquartered in Long Beach, California, Molina Healthcare, Inc. (NYSE:MOH) is a managed healthcare services provider. On December 29, 2022, Molina Healthcare, Inc. (NYSE:MOH) stock closed at $333.27 per share. One-month return of Molina Healthcare, Inc. (NYSE:MOH) was -0.47% and its shares gained 3.93% of their value over the last 52 weeks. Molina Healthcare, Inc. (NYSE:MOH) has a market capitalization of $19.463 billion.

Renaissance Investment made the following comment about Molina Healthcare, Inc. (NYSE:MOH) in its Q3 2022 investor letter:

“Lastly, Molina Healthcare, Inc. (NYSE:MOH) returned 18.0% after reporting strong quarterly results that saw solid membership growth and a favorable medical cost environment. The stock also benefited from a rotation to companies with more stable and predictable business models, a desirable attribute in the current economic environment.”

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Molina Healthcare, Inc. (NYSE:MOH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Molina Healthcare, Inc. (NYSE:MOH) at the end of the third quarter, which was 34 in the previous quarter.

We discussed Molina Healthcare, Inc. (NYSE:MOH) in another article and shared the top health insurance stocks to buy. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.