5 Best Stocks to Buy Now According to Billionaire Larry Robbins

2. Cigna Corporation (NYSE:CI)

Glenview Capital’s Stake Value: $382 million

Percentage of Glenview Capital’s 13F Portfolio: 7.7%

Number of Hedge Fund Holders: 63

Cigna Corporation (NYSE:CI) is a managed healthcare and insurance company. It is headquartered in Bloomfield, Connecticut. The company’s equity that is owned by 63 hedge funds is worth $2.6 billion as of the first quarter of 2022. 

On June 16, Loop Capital analyst Joseph France initiated coverage of Cigna Corporation with a Hold rating and a $270 price target. 

Cigna Corporation was brought up by Davis Funds in their Q4 2021 letter. Here’s what they 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, United Health Group, Viatris and Quest Diagnostics.”