5 Best Foreign Stocks To Buy Now

In this piece, we will take a look at the five best foreign stocks to buy now. If you want to learn more about the trends that are currently shaping major foreign economies, then read 11 Best Foreign Stocks To Buy Now.

5. Medtronic plc (NYSE:MDT)

Number of Hedge Fund Investors In Q2 2023: 63

Medtronic plc (NYSE:MDT) is a medical devices company that sells products for surgeries, heart problems, lung diseases, and other areas. The firm is currently selling some of its business units according to media reports, and the offer has solicited interest from banks and private lenders.

Insider Monkey dug through 910 hedge funds for their Q2 2023 investments and discovered that 63 had bought Medtronic plc (NYSE:MDT)’s shares. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the firm’s biggest hedge fund investor among these, as it owns 5.7 million shares that are worth $506 million.

4. PDD Holdings Inc. (NASDAQ:PDD)

Number of Hedge Fund Investors In Q2 2023: 67

PDD Holdings Inc. (NASDAQ:PDD) is an electronic commerce company that sells a variety of different products. Continued expansion of online commerce has boded well for the firm, as not only has it beaten analyst EPS estimates in all four of its latest quarters, but its shares are also rated Strong Buy on average with an average share price target of $122.21.

As of June 2023 end, 67 out of the 910 hedge funds part of Insider Monkey’s database were the firm’s shareholders. PDD Holdings Inc. (NASDAQ:PDD)’s largest investor in our database is Lei Zhang’s Hillhouse Capital Management due to its $565 million investment.

3. Linde plc (NYSE:LIN)

Number of Hedge Fund Investors In Q2 2023: 70

Linde plc (NYSE:LIN) is a British industrial gas provider headquartered in Woking, the United Kingdom. The firm has been doing well this year, with its net income growing by 23% annually during the third quarter and the shares having solicited an average Strong Buy rating.

During 2023’s second quarter, 70 out of the 910 hedge funds profiled by Insider Monkey had held a stake in Linde plc (NYSE:LIN). Alexander Mitchell’s Scopus Asset Management is the biggest hedge fund shareholder courtesy of its 116,885 shares that are worth $44.5 million.

2. Alibaba Group Holding Limited (NYSE:BABA)

Number of Hedge Fund Investors In Q2 2023: 112

Alibaba Group Holding Limited (NYSE:BABA) is a Chinese business conglomerate known primarily for its namesake online retail platform. Despite a slow Chinese economy, analysts seem to be quite optimistic about its prospects since they have rated the shares Strong Buy on average and priced in a $56.69 share price upside based on the average share price target of $139.24.

As of this year’s June quarter, 112 among the 910 hedge funds tracked by Insider Monkey were the firm’s investors. Out of these, Alibaba Group Holding Limited (NYSE:BABA)’s largest stakeholder is David Tepper’s Appaloosa Management LP courtesy of its $372 million stake.

1. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)

Number of Hedge Fund Investors In Q2 2023: 121

The Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is the largest contract chip manufacturer in the world. After a slowdown in the chip sector has cut its revenue for most months in 2023 on an annual basis, the firm had a solid third quarter as it managed to beat analyst EPS estimates.

During Q2 2023, 121 out of the 910 hedge funds part of Insider Monkey’s database had bought and owned Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)’s shares. Ken Fisher’s Fisher Asset Management owns the biggest stake among these, which is worth $2.9 billion.

Disclosure: None. You can also take a look at 12 Best Penny Stocks to Buy Under $1 and Top 15 Tech Trends In 2023.

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