Billionaire Lee Cooperman’s 5 Stock Picks with Huge Upside Potential

4. The Cigna Group (NYSE:CI)

Cooperman’s Stake Value: $77.426 million

Average analyst price target: $345.00

Average analyst price target upside: 28.24%

The Cigna Group (NYSE:CI) is a Connecticut-based healthcare services company that offers medical, dental, disability, life and accident insurance, and more.

On November 29, it was reported that The Cigna Group (NYSE:CI) was carrying out talks with Humana Inc. (NYSE:HUM) about a stock-and-cash merger deal. The $60 billion deal was said to potentially be completed by the end of the year, but experts have commented that it might take longer because of regulatory scrutiny.

According to Insider Monkey’s database that tracks 910 elite hedge funds, 74 funds had investments in The Cigna Group (NYSE:CI)’s stock in the third quarter. Larry Robbins’s Glenview Capital was the most prominent stakeholder in the company, with nearly 1.549 million shares worth $443.07 million.

Davis Funds mentioned The Cigna Group (NYSE:CI) in its third quarter 2023 investor letter. Here is what it said:

“In the attractive healthcare sector, we look beyond the obvious to identify businesses that simultaneously have exposure to this growth industry and also trade at low prices. We’re especially drawn to companies like Cigna Group, whose products or services play a part in helping to mitigate healthcare’s constantly rising costs. The healthcare industry has been a growing part of the U.S. economy for decades. As a result, many companies in this sector trade at high valuations reflecting their robust but well-known reputation for growth. For value-conscious investors like us, investing in healthcare requires looking beyond the obvious to identify businesses that have exposure to this growth industry but which trade at low prices. Furthermore, recognizing that the constantly rising cost of healthcare cannot go on forever, we have been particularly drawn to companies whose products or services play some role in managing or reducing the cost of care. As a result, we have positions in Cigna Group, a well-regarded provider of managed care.”