5 Best Stocks to Buy for the Next 50 Years

3. Cigna Corporation (NYSE:CI)

Number of Hedge Fund Holders: 63

Cigna Corporation (NYSE:CI) is a Connecticut-based company that provides medical insurance and healthcare solutions in the United States. With an aging demographic in the United States, healthcare and insurance providers are set to achieve more customers in the years to come, making companies like Cigna Corporation (NYSE:CI) a top portfolio choice for the next 50 years. 

Morgan Stanley analyst Ricky Goldwasser on June 22 upgraded Cigna Corporation (NYSE:CI) to ‘Overweight’ from ‘Equal Weight’ with a price target of $296, up from $283. According to the analyst, Cigna Corporation (NYSE:CI) is likely going to be the biggest beneficiary of Humira biosimilars in the healthcare services sector. Humira is an antibody treatment for multiple diseases, including rheumatoid arthritis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis. 

Among the hedge funds tracked by Insider Monkey, 63 funds were bullish on Cigna Corporation (NYSE:CI) at the end of Q1 2022, up from 53 funds in the previous quarter. Larry Robbins’ Glenview Capital is the biggest shareholder of the company, with 1.6 million shares worth $382.4 million. 

Cigna Corporation (NYSE:CI) was mentioned in the Q4 2021 investor letter of Davis Funds. Here’s what the firm said:

“Healthcare is included in the portfolio both for company-specific reasons, as well as big picture trends. At the company level, we hold select companies in pharmaceuticals, healthcare services and health insurance at attractive valuations. This is at a time when the average age of the U.S. population is fast approaching 40, older than Asia-Pacific and a little younger than the aged populations of Europe and Japan. The number of seniors in the U.S.—i.e., 65 years or older— now surpasses 54 million, or about 15% of the population. Seniors, on average, take a much greater number of medications and account for a large and disproportionate share of healthcare spending, and we expect that trend to continue due to both raw demographics and a proliferation in the number of available treatments and services available now, the latter being driven by innovation and investment in the healthcare industry. Representative holdings in the Fund include Cigna, UnitedHealth Group, Viatris and Quest Diagnostics.”