5 Best Diabetes Stocks To Buy Now

1. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 79  

Merck & Co., Inc. (NYSE:MRK) operates as a healthcare company worldwide. The firm features on the list of best diabetes stocks to invest in. The company recently won a patent suit related to a diabetes drug against rival Viatris. A US District Court in West Virginia sided with the New Jersey-based drugmaker over intellectual property challenges tied to sitagliptin, which is an active ingredient in Januvia and its offshoots, Janumet and Janumet XR. The court found both Merck patents involved in the feud were valid and infringed, the company said. 

On September 14, Berenberg analyst Luisa Hector upgraded Merck & Co., Inc. (NYSE:MRK) stock to Buy from Hold and raised the price target to $100 from $95, noting the simple success stories in the pharma sector remained attractive for investors. 

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Merck & Co., Inc. (NYSE:MRK), with 12 million shares worth more than $1.1 billion. 

In its Q2 2022 investor letter, Chartwell Investment Partners, an asset management firm, highlighted a few stocks and Merck & Co., Inc. (NYSE:MRK) was one of them. Here is what the fund said:

“In the Dividend Equity accounts, the three best performers in Q2 includes Merck & Co., Inc. (NYSE:MRK), up 12.0%. Merck, like other pharma companies, is in a defensive business, but the stock also did well as peak-sales estimates for their flagship drug, Keytruda, have gone up (JPMorgan estimates $32 billion in sales by 2026).”

You can also take a peek at 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.

Follow Insider Monkey on Twitter