Billionaire Andreas Halvorsen’s Top 5 Stock Picks

Below are the billionaire Andreas Halvorsen’s top 5 stock picks. For a comprehensive list please see Billionaire Andreas Halvorsen’s Top 10 Stock Picks.

5. Centene Corporation (NYSE:CNC)

The healthcare services provider Centene Corporation (NYSE: CNC) is the long-running investment of Viking Global Investors. The hedge fund first initiated a position in Centene in 2018. The position is currently accounting for 3.66% of the overall portfolio.

Centene Corporation stock price underperformed this year due to the coronavirus pandemic. The company has recently provided a soft outlook for fiscal 2021. Centene expects FY2020 total revenue in the range of $109.8 billion-$111.4 billion while FY2021 revenue guidance stands around $114.1 billion-$116.1 billion.

Magellan Health Inc. (NASDAQ:MGLN) shares jumped more than 13 percent on Monday morning after health insurer Centene Corp (NYSE:CNC) announced that it is acquiring Magellan in a deal valued at $2.2 billion. Magellan will receive $95 per share from Centene. The offer price represents a premium of 14.7 percent from Magellan’s stock closing price of $82.84 on Thursday.

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