5 Best European Stocks To Buy Now

In this piece, we will take a look at the five best European stocks to buy now. For a deeper dive into the European economy and recent news about Europe’s top companies, take a look at 11 Best European Stocks To Buy Now.

5. ASML Holding N.V. (NASDAQ:ASML)

Number of Hedge Fund Investors in Q2 2023: 55

ASML Holding N.V. (NASDAQ:ASML) is a Dutch company that sells machines used to make semiconductors. Its machines are a constant source of geopolitical tensions, and recently, Chinese firm Huawei’s new 7-nanometer chips have placed ASML Holding N.V. (NASDAQ:ASML)’s DUV chip machines under the radar of U.S. sanctions.

During Q2 2023, 55 out of the 910 hedge funds profiled by Insider Monkey had invested in ASML Holding N.V. (NASDAQ:ASML). Ken Fisher’s Fisher Asset Management owns the largest stake among these which is worth $3.4 billion and comes via 4.7 million shares.

4. Accenture plc (NYSE:ACN)

Number of Hedge Fund Investors in Q2 2023: 56

Accenture plc (NYSE:ACN) is an Irish technology company that provides technology, consulting, cyber security, and other services. The firm is currently expanding its services portfolio, as it announced a bid to acquire a supply chain services provider at October end.

After digging through 910 hedge funds for their June quarter of 2023 investments, Insider Monkey discovered that 56 had bought the firm’s shares. Accenture plc (NYSE:ACN)’s biggest shareholder in our database is Guardian Capital’s GuardCap Asset Management due to its $576 million investment.

3. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Investors in Q2 2023: 63

Medtronic plc (NYSE:MDT) is a medical devices company that develops products used to manage heart ailments. The firm made a big announcement in October 2023 when it revealed that its heart valve replacement system demonstrated low stroke and death risk rates.

For their second quarter of 2023 shareholdings, 63 among the 910 hedge funds tracked by Insider Monkey were Medtronic plc (NYSE:MDT)’s investors. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the largest investor among these, owning 5.7 million shares that are worth $506 million.

2. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Investors in Q2 2023: 67

PDD Holdings Inc. (NASDAQ:PDD) is the holding company for the Chinese retailer Pinduoduo. Despite a slowing Chinese economy, the firm has beaten analyst EPS estimates in all four of its latest quarters and analysts have rated the shares as Strong Buy on average.

By the end of this year’s second quarter, 67 out of the 910 hedge funds polled by Insider Monkey had bought the firm’s shares. PDD Holdings Inc. (NASDAQ:PDD)’s biggest stakeholder among these is Lei Zhang’s Hillhouse Capital Management as it owns $565 million worth of shares.

1. Linde plc (NYSE:LIN)

Number of Hedge Fund Investors in Q2 2023: 70

Linde plc (NYSE:LIN) is a British industrial raw materials provider that sells gases. Its third quarter of 2023 earnings saw the firm report a 7% annual sales drop, but a 15% operating profit and 26% earnings per share growth.

During Q2 2023, 70 out of the 910 hedge funds part of Insider Monkey’s database had invested in Linde plc (NYSE:LIN). Alexander Mitchell’s Scopus Asset Management owns the largest stake among these, which is worth $44 million.

Disclosure: None. You can also take a look at 25 Funny Prank Call Ideas for your Boyfriend and 30 Best School Districts in USA.

Follow Insider Monkey on Twitter