Does your portfolio leave you feeling a little nauseous? Jim Cramer thinks shares of Aetna could make you feel a lot better.
With some major provisions of the going into effect this year, establishing a new position in any managed care stock may not seem intuitive.
But sometimes the best investments are not intuitive.
"If you're sitting there, scratching your head and thinking, what the heck? I don't blame you. But long story short, most Obamacare issues were resolved, and the managed care group has also been benefiting from some additional positives," said Cramer.
Therefore Cramer thinks a new position in a good managed care company could be just what the doctor ordered!
All puns aside, the "Mad Money" became keenly aware of the potential after parsing through commentary from Wellpoint's investor day
"They said that the medical costs of new patients are coming in largely as the company expected, and Wellpoint's been able to price their premiums well ahead of those costs."
Cramer takes that to mean that concerns generated by the mandate to insure people with pre-existing conditions were not warranted. "They're being offset by the premiums paid by healthy people," Cramer said.
But that's not the only reason Cramer is bullish.
"In general, more people with health insurance has translated into more business for Wellpoint," he said. That should also be true for the other managed care companies.
"And, as it would turn out, the beleaguered insurance exchanges have evolved into an effective marketplaces where managed care companies are able to sell that carry higher margins." Again, that's bullish.
However, if you're an investor, there's something else to consider. Cramer doesn't think the tailwinds outlined above will drive the same advance in each of the managed care plays, equally.
Here's what Cramer had to say about the biggest managed care stocks on Tuesday's "Mad Money":
UnitedHealth: "UnitedHealth is the best managed, but it's also the most expensive, selling for 13 times earnings," Cramer said. In other words, it's rich as compared to peers.
Wellpoint: "Wellpoint just had a big run up into its analyst day, although even up here it only sells for 11 times earnings. I very much like what Wellpoint had to say, but I think you should wait for a pullback before you pull the trigger here; I don't want to chase."
Aetna: "Aetna is the one I would buy right now, right here. It's well run and the least expensive, selling for 10.5 times earnings," Cramer said.
Humana: "Humana has the most Medicare exposure, which is why it's had the biggest run, up 74% in the last year as people realized the Medicare Advantage business wasn't as risky as they'd thought. But at this point, I think the stock has a lot less upside than the rest of the group."
Cigna: "Cigna has been the worst performer, although up 32% in 12 months is still nothing to sneeze at. Cigna has more of a commercial focus, which makes it less risky, but its latest quarter was not so hot, so for now it's in show-me mode."
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All told, Cramer is a buyer of Aetna at current levels with UnitedHealth and Wellpoint on his radar in anticipation of a pullback. "I know these stocks may seem like counterintuitive buys, but I really believe Obamacare has become an unexpected boon for these stocks," said Cramer.
Call Cramer: 1-800-743-CNBC
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