5 Best 52-Week Low Stocks To Buy Now

In this article, we will discuss the 5 best 52-week low stocks to buy now. If you want to explore similar stocks, you can go to 15 Best 52-Week Low Stocks To Buy Now.

5. Centene Corporation (NYSE:CNC)

Number of Hedge Fund Holders: 58

Centene Corporation (NYSE:CNC) was held by 58 hedge funds at the end of Q4 2022. These funds held collective positions worth $3.12 billion in the company, up from $1.82 billion in the previous quarter with 61 positions.

On February 2, Centene Corporation (NYSE:CNC) posted earnings for the fourth quarter of fiscal 2022. The company reported an EPS of $0.86 and outperformed EPS estimates by $0.02. The company generated a revenue of $35.56 billion and beat revenue consensus by $189.36 million.

On February 14, Cowen analyst Gary Taylor revised his price target on Centene Corporation (NYSE:CNC) to $97 from $101 and maintained an Outperform rating on the shares. As of March 14, the stock has fallen by 23.51% over the past 12 months. Centene Corporation (NYSE:CNC) is one of the best 52-week low stocks to buy according to analysts and hedge funds.

As of December 31, Politan Capital is the most prominent shareholder in Centene Corporation (NYSE:CNC) and has disclosed a stake worth $1.07 billion.

4. CVS Health Corporation (NYSE:CVS)

Number of Hedge Fund Holders: 70

CVS Health Corporation (NYSE:CVS) is a leading American healthcare services company. As of March 14, the stock has declined by 27.02% over the past 12 months and is offering a forward dividend yield of 3.14%. CVS Health Corporation (NYSE:CVS) is one of the best 52-week low stocks to buy now according to hedge funds.

On February 9, Raymond James analyst John Ransom updated his price target on CVS Health Corporation (NYSE:CVS) to $110 from $115 and maintained an Outperform rating on the shares.

At the end of Q4 2022, 70 hedge funds were long CVS Health Corporation (NYSE:CVS) and disclosed stakes worth $2.13 billion in the company. Of those, AQR Capital Management was the top investor in the company and held a position worth $396 million.

3. The Charles Schwab Corporation (NYSE:SCHW)

Number of Hedge Fund Holders: 74

The Charles Schwab Corporation (NYSE:SCHW) was a part of 74 investors’ portfolios at the close of Q4 2022. These funds held collective stakes worth $8.18 billion in the company, up from $7.36 billion in the previous quarter when 75 hedge funds held positions in the company. The Charles Schwab Corporation (NYSE:SCHW) is one of the best 52-week low stocks to buy now according to hedge funds.

On March 14, Piper Sandler analyst Richard Repetto revised his price target on The Charles Schwab Corporation (NYSE:SCHW) to $95 from $100 and maintained an Overweight rating on the shares. As of March 14, The Charles Schwab Corporation (NYSE:SCHW) has declined by 32.24% over the past 12 months and is offering a forward dividend yield of 1.50%.

As of December 31, GQG Partners is the top shareholder in The Charles Schwab Corporation (NYSE:SCHW) and has disclosed a stake worth $1.44 billion.

Here is what Ron Baron’s Baron Funds had to say about The Charles Schwab Corporation (NYSE:SCHW) in its Q4 2022 investor letter:

“Shares of online brokerage firm The Charles Schwab Corporation (NYSE:SCHW) rose in the quarter on rising interest rates, which should generate increased profits on Schwab’s more than $600 billion of interest-earning assets. Despite turbulent markets, the company attracted over $400 billion of net new client assets over the past 12 months. In addition to strong organic growth, we believe operating expenses per client assets will drop to record lows once the equity markets improve.”

2. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 75

On January 31, Pfizer Inc. (NYSE:PFE) announced earnings for the fourth quarter of fiscal 2022. The company generated a revenue of $24.29 billion and reported an EPS of $1.14, outperforming EPS estimates by $0.10. As of March 14, the stock has fallen by 23.67% over the past 12 months and is trading at a PE multiple of 7x.

On March 6, Jefferies analyst Akash Tewari took coverage of Pfizer Inc. (NYSE:PFE) with a Hold rating and a $43 price target. Pfizer Inc. (NYSE:PFE) is placed second on our list of the best 52-week low stocks to buy now according to hedge funds and analysts.

At the close of the fourth quarter of 2022, 75 hedge funds were long Pfizer Inc. (NYSE:PFE) and disclosed positions worth 2.50 billion in the company. This is compared to 77 hedge funds in the previous quarter with stakes worth $2.44 billion. As of December 31, AQR Capital Management is the top stockholder in the company and has a stake worth $502.7 million.

1. Bank of America Corporation (NYSE:BAC)

Number of Hedge Fund Holders: 100

This March, Odeon Capital analyst Dick Bove revised his rating on Bank of America Corporation (NYSE:BAC) to Hold from Buy and reiterated his $35.20 price target. As of March 14, Bank of America Corporation (NYSE:BAC) has lost 29.37% over the past 12 months and is trading at a PE multiple of 9.72.

At the end of Q4 2022, 100 hedge funds held stakes in Bank of America Corporation (NYSE:BAC). The total value of these stakes amounted to $37.56 billion, up from $35.61 billion in the preceding quarter with 97 positions. The hedge fund sentiment for Bank of America Corporation (NYSE:BAC) is positive and the stock is the best 52-week low stock to buy now according to hedge funds.

As of December 31, Warren Buffett’s Berkshire Hathaway is the leading investor in Bank of America Corporation (NYSE:BAC) and has a position worth $33.45 billion in the company.

Here is what Ariel Investments had to say about Bank of America Corporation (NYSE:BAC) in its Q3 2022 investor letter:

“We initiated three new positions in the quarter. We added leading financial institution Bank of America Corporation (NYSE:BAC) which serves individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services. The current company was formed through various mergers including NationsBank, FleetBoston, US Trust, Countrywide Financial, and Merrill Lynch with the legacy commercial bank to form a national banking powerhouse and bulge bracket investment firm. As one of the ‘Big Four’ U.S. banks it enjoys scale driven cost advantages and economies of scale which provide meaningful competitive advantages and potential for strong returns in the largely commoditized banking industry. A survivor of the financial crisis, BAC has emerged with a solid capital base and stands to benefit from a rising interest rate environment.”

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