10 Best Inexpensive Stocks to Buy According to Hedge Funds

4. The Cigna Group (NYSE:CI)

Forward P/E Ratio as of September 8: 9.26

Number of Hedge Fund Holders: 80

The Cigna Group (NYSE:CI) is one of the best inexpensive stocks to buy according to hedge funds. On August 29, Phothera announced that Cigna has updated its coverage policy for home phototherapy, effective July 15. The change eliminates prior restrictions on the treatment, expanding access for Cigna’s 19.2 million members nationwide who have chronic skin conditions like psoriasis, eczema, and vitiligo.

The policy change follows a similar decision by Elevance Health/Anthem, which covers 47.5 million lives. With both Cigna and Elevance now covering home phototherapy without restrictions, more than 66.7 million insured Americans have expanded access to this non-invasive treatment. Home phototherapy has been clinically proven to achieve clearance or significant improvement in up to 80% of patients.

In the US, an estimated 8 million people have psoriasis, over 16 million live with eczema, and about 6.5 million have vitiligo. The policy decisions by Cigna and Elevance are expected to lower patient out-of-pocket costs by up to 90%. They may also encourage earlier intervention and reduce the need for more expensive treatments, such as biologic drugs. For insurers, home phototherapy can be a cost-effective alternative, potentially reducing annual treatment expenses by thousands of dollars per patient.

The Cigna Group (NYSE:CI) provides insurance and related products and services in the US. The company was formerly Cigna Corporation and changed its name to The Cigna Group in February 2023.