5 Best Healthcare Stocks For Recession

2. Cigna Corporation (NYSE:CI)

Number of Hedge Fund Holders: 76

Cigna Corporation (NYSE:CI) outperformed the market in 2022. On a TTM basis Cigna Corporation (NYSE:CI)’s revenue stands at about $190 billion. Cigna Corporation (NYSE:CI)’s cash position also remains strong. It has about $7 billion in cash as of the end of 2022, which shows a 40% jump as compared to 2021. Cigna Corporation (NYSE:CI)’s debt position also shows that there is no short-term risk to the company. Cigna Corporation (NYSE:CI) has about $9 billion in free cash flow as of the last 12 months. Cigna Corporation (NYSE:CI)’s short-term debt stands at $3.4 billion and its long-term debt is $28 billion. Cigna Corporation (NYSE:CI) is also a dividend stock with a dividend yield of about 1.42% as of January 17.

Hedge fund sentiment is also strong for Cigna Corporation (NYSE:CI). It has 76 hedge funds with stakes in it as of the end of the third quarter, compared to 66 funds in the previous quarter.

Aristotle Atlantic made the following comment about Cigna Corporation (NYSE:CI) in its Q3 2022 investor letter:

“Cigna Corporation (NYSE:CI) outperformed the S&P 500 Index in the third quarter, as the company reported what we view as solid second quarter results driven by a better-than-expected medical loss ratio. The company continues to be aggressive with share repurchases and we believe the defensive nature of Cigna’s business continues to be attractive during the ongoing macroeconomic uncertainty.”