Investing success hinges upon two factors: finding businesses with winning records and giving them time to work their magic. One example is Molina Healthcare (NYSE: MOH) , which has beaten the S&P 500 index each year dating back to 2020. And the stock could be poised for another year of outsized performance. Let's delve into Molina Healthcare's fundamentals and valuation to find out why.
There are arguably few better industries to currently operate in than health insurance. Market research firm IMARC Group anticipates that the global health insurance market will grow at a 7.1% rate from $1.7 trillion in 2022 to $2.6 trillion by 2028. The increasing prevalence of chronic health conditions and growing geriatric population should lift demand for health insurance as the years unfold.
Molina Healthcare's $17.5 billion market capitalization positions it as the seventh-biggest publicly traded health insurer in the world. As of Sept. 30, the company's membership base was just shy of 5.2 million across its Medicaid, Medicare, and Marketplace segments. Molina's year-to-date total revenue surged 16.6% higher over the year-ago period to $23.8 billion.
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