If you are sitting on the fence about Molina Healthcare, you are not alone. With the stock closing at $188.56 and sporting a value score of 5 out of 6, meaning it is undervalued in five critical metrics, the market story here is far from over. In fact, it has been a wild ride: over the past seven days, shares have dropped 5.9%, while the last 30 days saw a healthy rebound of 6.9%. Yet, if you zoom out, Molina is still down about 34% year-to-date and off nearly 47% from where it traded three years back. These swings are not happening in a vacuum.

Recent policy headlines have played their part. Debates in Washington over health insurance subsidies and looming rate hikes on ACA marketplace plans have kept investors tuned in, with…