5 Best Diabetes Stocks To Buy Now

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

Number of Hedge Fund Holders: 82

Merck & Co., Inc. (NYSE:MRK) operates as a healthcare company worldwide. The company provides human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes. The company raised full-year 2022 worldwide sales guidance to be between $58.5 billion-$59.0 billion, up from the prior outlook of $57.5 billion-$58.5 billion. This reflects full-year growth of 20% to 21%. The consensus revenue estimate came in at $58.46 billion. 

On November 17, Credit Suisse analyst Trung Huynh initiated coverage of Merck & Co., Inc. (NYSE:MRK) with an Outperform rating and a $120 price target, naming it one of his two top ideas on a relative basis among the U.S. large-cap biopharma group. He sees Merck & Co., Inc. (NYSE:MRK) having “low-risk and high short-term growth” with Keytruda growing more than 20% year-over-year, giving the company “ample time” to make up for its loss-of-exclusivity by the end of 2028. The present valuation is not factoring in Merck & Co., Inc. (NYSE:MRK)’s growth profile, the analyst added.

Among the hedge funds tracked by Insider Monkey, 82 funds reported owning stakes in Merck & Co., Inc. (NYSE:MRK) at the end of Q3 2022, compared to 79 funds in the prior quarter. Jim Simons’ Renaissance Technologies is a prominent stakeholder of the company, with 4.5 million shares worth $393 million. 

Here is what Carillon Tower Advisers had to say about Merck & Co., Inc. (NYSE:MRK) in its Q2 2022 investor letter:

“Merck & Co., Inc. (NYSE:MRK) reported a strong first quarter and raised its financial guidance for 2022. The company also continues to benefit from the recent rotation into pharmaceuticals, which historically has been a more defensive industry.”

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