In this article, we discuss 5 best stocks to buy according to billionaire Larry Robbins. For Robbins’ investment philosophy and his comments on certain stocks please see 10 Best Stocks To Buy According To Billionaire Larry Robbins.
5. Cigna Corporation (NYSE: CI)
Percent of Larry Robbins’ 13F Portfolio: 5.99%
No. of Hedge Fund Holders: 57
Insurance giant Cigna is amongst the 10 best stocks to buy according to billionaire Larry Robbins. Cigna recently announced to double its spending on share buybacks – to $8 billion for 2021- 2025 compared to $3 billion in 2019-2020. The company also said that its COVID-19-related losses would halve as mass rollouts of vaccines would cause a decline in COVID-19 testing costs and its memberships are also expected to recover following plummeting joblessness in the country.
Andreas Halvorsen’s Viking Global is one of the 57 hedge funds tracked by Insider Monkey having stakes in CI at the end of the fourth quarter. The fund owns over 1.95 million shares of the company.
“New purchases include Cigna. Cigna is a leading managed care company which operates through the following major segments: health services, integrated medical, international markets and group disability. It’s one of the few managed care organizations in the United States with the scale and size to compete effectively. Cigna has recently focused on deleveraging its balance sheet and further diversifying its business, after completing the Express Scripts acquisition in late 2018. Additionally, the company has partnered with Amazon, which will offer two new pharmacy options—including a self-pay offering. Cigna will administer the self-pay option through its health services division Evernorth. The partnership should be one of many strong earnings drivers for Cigna, which we believe is currently trading at an attractive valuation.”