Cathie Wood and Steve Cohen Love These 5 Stocks

2. Signify Health, Inc. (NYSE:SGFY)

ARK Investment Management’s Stake Value: $381,009,000

Point72 Asset Management’s Stake Value: $23,439,000

Number of Hedge Fund Holders: 26

Signify Health, Inc. (NYSE:SGFY) is a Texas-based company that operates a healthcare platform which assists hospitals via technology and data analytics. Securities filings for Q1 2022 reveal that ARK Investment Management owned a $381 million stake in Signify Health, Inc. (NYSE:SGFY), while Point72 Asset Management held a $23.4 million position. 

On June 6, Piper Sandler analyst Jessica Tassan raised the price target on Signify Health, Inc. (NYSE:SGFY) to $32 from $27 and kept an Overweight rating on the shares. The higher target reflects better consistency and working capital management within Signify Health, Inc. (NYSE:SGFY)’s ECS division given the Caravan Health acquisition, the analyst told investors in a research note.

Among the hedge funds tracked by Insider Monkey, 26 funds were long Signify Health, Inc. (NYSE:SGFY) in the March quarter, up from 16 funds in the preceding quarter. Israel Englander’s Millennium Management is one of the leading shareholders of the company, with 3.35 million shares worth about $61 million.