In this article, we take a closer look at the 14 best 52-week high stocks to buy now. To find more such companies that meet comparable criteria, please go directly to: Top 5 52 Week High Stocks to Buy Now.
The outlook for 2024 is positive for the economy and stock market. Market conditions improved significantly in the fourth quarter of 2023 due to slower inflation, allowing the Federal Reserve to ease monetary policy. The central bank aims to slow economic growth to curb inflation without triggering a recession, potentially leading to a soft landing into 2024.
AI has emerged as the most promising investment theme in 2023 and remains one of the top-performing technology stocks so far in 2024, with NVIDIA Corporation (NASDAQ:NVDA) up 265% in the fourth quarter of 2023. It delivered a solid performance with impressive revenue growth. We have benefited greatly from the technology industry's recent focus on large-scale artificial intelligence models. Analysts believe that the AI-driven market is in its infancy and sees great potential in the coming years due to advances in productivity and AI technology.
In March 2024, three major stock indexes recorded impressive gains, each reaching unprecedented closing price levels. The Dow Jones Industrial Average jumped 401.37 points to close at 39,512.13. At the same time, the S&P 500 index breached the milestone of 5,200 for the first time, registering a gain of 0.89%. Meanwhile, the Nasdaq Composite Index rose 1.25% to settle at 16,369.41. The Fed also reaffirmed its outlook for three rate cuts by the end of 2024. But inflation remains stubborn and the Fed may not be able to proceed as planned.
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our methodology
In this article, we first used a stock screening tool to identify stocks that recently reached a 52-week high or are currently trading at a 52-week high. We enumerated a list of stocks and narrowed this list down by selecting his 14 52-week high stocks with the highest number of hedge fund investors and a market capitalization of at least $10 billion. We measure sentiment toward hedge fund stocks using Insider Monkey's database of 933 hedge funds and their holdings, updated as of the end of last year's fourth quarter.
The best 52-week high stocks to invest in now
14. Lennar Corporation (NYSE:Len)
Number of hedge fund holders: 65 people
Lennar Corporation (NYSE:LEN) is a home construction company engaged in real estate financing and investment management services. Founded in 1954 by Arnold Paul Rosen and Gene Fisher, the company is headquartered in Miami, Florida.
March 13, 2024 Lennar Corporation (NYSE: LEN) reported fiscal first-quarter profit that beat Wall Street expectations due to continued demand for new home construction amid a historically low supply of existing homes. Announced. The company delivered 16,798 homes in the quarter ended Feb. 29; twenty three% A sharp increase from the previous year.
According to Insider Monkey's Q4 2023 database of 933 hedge funds, Lennar Corporation (NYSE:LEN) has 65 hedge funds.Edgar Wachenheim's greenhaven associates is the largest shareholder with 9 million shares worth $1.35 billion.
13. CRH plc (NYSE:CRH)
Number of hedge fund holders: 65 people
CRH plc (NYSE:CRH), headquartered in Dublin, Ireland, is an international group with diversified building materials businesses in the construction industry.
According to Insider Monkey's Q4 2023 database, CRH plc is held by 65 out of 933 elite hedge funds. Alexander Mitchell's Scopus Asset Management is the company's largest shareholder with 410,000 shares worth $28.4 million.
12. Spotify Technology SA (NYSE:SPOT)
Number of hedge fund holders: 68 people
Luxembourg-based Spotify Technology SA (NYSE:SPOT) provides audio streaming services that offer both online and offline music and podcast streaming, as well as ad-free music listening options. Subscription plans include family, student, and duo options.
Spotify Technology SA (NYSE:SPOT) is one of the best 52-week high stocks to invest in, according to Insider Monkey's database of 933 elite hedge funds, with 68 funds holding the stock as of Q4 2023. doing. Ken Griffin's Citadel Investment Group holds the largest holdings. It holds 1.7 million shares (valued at $311.2 million).
11. DexCom, Inc. (NASDAQ:DXCM)
Number of hedge fund holders: 69 people
DexCom, Inc. (NASDAQ:DXCM), founded in 1999, is a medical device manufacturing company focused on the design, development, and commercialization of continuous glucose monitoring (CGM) systems. DexCom, Inc. (NASDAQ: DXCM) announced in March that its new over-the-counter continuous glucose monitor Stelo received approval from the U.S. Food and Drug Administration.
Ken Griffin's Citadel Investment Group is the company's largest shareholder with 2.4 million shares worth $294.8 million. DexCom, Inc. (NASDAQ:DXCM) is an attractive choice for investors among 52-week high stocks, with 69 funds trading in the stock, according to Insider Monkey's Q4 2023 database, which includes 933 hedge funds. is in possession.
10. McKesson Corporation (NYSE:MCK)
Number of hedge fund holders: 69 people
McKesson Corporation (NYSE:MCK) is a health care services company founded in New York in 1833 by John McKesson and Charles Olcott. The company functions as a prominent pharmaceutical distributor and provides a wide range of services including healthcare supply chain management, oncology, specialty care, retail pharmacy, and healthcare information technology services.
McKesson Corporation (NYSE:MCK) is one of the world's top 52 companies, along with Micron Technology Inc. (NASDAQ:MU), The Walt Disney Company (NYSE:DIS), and Netflix Inc. (NASDAQ:NFLX). It is considered as one. Top weekly stocks to invest in.
9. Boston Scientific Corporation (NYSE:BSX)
Number of hedge fund holders: 71
Boston Scientific Corporation (NYSE:BSX) is a medical technology company focused on developing, manufacturing, and commercializing devices for a variety of medical specialties. Boston Scientific Corporation (NYSE:BSX) is at the forefront of medical innovation and technology and is considered one of the best 52-week high stocks. The company sells its products directly and through distributors and dealers in Europe, Africa, the Middle East, Asia Pacific, and the Americas.
According to Insider Monkey's database of 933 hedge funds, Boston Scientific Corporation (NYSE:BSX) holds shares in 71 funds as of Q4 2023. Ken Griffin's Citadel Investment Group is the company's largest shareholder, with his 9 million shares valued at $519.2. a million.
8. Fiserv Inc. (NYSE:FI)
Number of hedge fund holders: 73 people
Fiserv, Inc. (NYSE:FI) is a fintech and payments company that provides solutions to thousands of financial institutions and businesses in more than 100 countries. Headquartered in Brookfield, Wisconsin, USA, we have operations around the world.
Fiserv Inc. (NYSE:FI) is one of the best-priced stocks over the past 52 weeks, posting a massive 18% gain in Q4 2024.
According to Insider Monkey's database of 933 hedge funds, 73 funds held shares in Fiserv, Inc. (NYSE:FI) as of Q4 2023. Harris Associates of Natixis Global Asset Management became the company's largest shareholder with a valued value of 15 million shares. For $2 billion.
7. Vertiv Holdings Co (NYSE:VRT)
Number of hedge fund holders: 75 people
Vertiv Holdings Co (NYSE:VRT), formerly Emerson Network Power Inc., is headquartered in Columbus, Ohio, USA. The company focuses on critical digital infrastructure technologies and offers a product range that includes embedded computing systems, power and UPS systems, thermal management systems, and data center solutions such as racks and enclosures.
6. Cigna Group (NYSE:CI)
Number of hedge fund holders: 76
Cigna Group (NYSE:CI) was founded in 1792 and is headquartered in Bloomfield, Connecticut. The Company is a global healthcare services provider with operations across multiple segments including Medical Services, Integrated Care, International Markets, Population Disabilities and Others.
Cigna Group (NYSE:CI) has agreed to sell its Medicare Health Benefits Division and Provider Services to Healthcare Services Corporation for $3.3 billion.
Larry Robin's Glenview Capital holds the largest position in Cigna Group (NYSE:CI) with 2.1 million shares worth approximately $641.6 million, according to Insider Monkey's database.
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Disclosure: None. Top 14 52-week high-value stocks to invest in now Originally published on Insider Monkey.
