In this article, we discuss 5 best international stocks to buy now. If you want to see more stocks in this selection, check out 10 Best International Stocks to Buy Now.
5. Garmin Ltd. (NYSE:GRMN)
Number of Hedge Fund Holders: 30
Garmin Ltd. (NYSE:GRMN) was founded in 1989 and is based in Schaffhausen, Switzerland. The company designs, manufactures, and distributes a range of wireless devices in the Americas, the Asia Pacific, Australian Continent, Europe, the Middle East, and Africa. Garmin Ltd. (NYSE:GRMN) operates through Fitness, Outdoor, Aviation, Marine, and Auto segments. It is one of the best international stocks to monitor in the current market.
On August 5, Tigress Financial analyst Ivan Feinseth reaffirmed a Strong Buy rating on Garmin Ltd. (NYSE:GRMN) but trimmed the price target on the shares to $165 from $208, citing a near-term re-rating of valuation, and called the recent pullback a “major buying opportunity.” The analyst believes resilience in Aviation and Outdoor products and Garmin Ltd. (NYSE:GRMN)’s market-leading product portfolio can overcome softness in the Fitness and Marine segments. His updated target paired with the present dividend yield represents a potential total return of more than 70% from current levels, the analyst added.
According to Insider Monkey’s data, 30 hedge funds were bullish on Garmin Ltd. (NYSE:GRMN) at the end of June 2022, and Ken Griffin’s Citadel Investment Group is the leading position holder in the company, with 556,499 shares worth $54.6 million.
4. Ferguson plc (NYSE:FERG)
Number of Hedge Fund Holders: 32
Next on our list of the best international stocks is Ferguson plc (NYSE:FERG), a British distributor of plumbing and heating products in the United States and Canada, catering to residential, commercial, infrastructure, and industrial end markets. The company announced that it purchased a total of 77,470 of its ordinary shares between October 5 and October 7, in continuation of its $2.5 billion share repurchase program.
On September 3, JPMorgan analyst Elodie Rall maintained an Overweight rating on Ferguson plc (NYSE:FERG) but lowered the price target on the shares to 12,500 GBp from 13,200 GBp.
Among the hedge funds tracked by Insider Monkey, 32 funds were long Ferguson plc (NYSE:FERG) at the end of Q2 2022, up from 18 funds in the preceding quarter. Brian Ashford-Russell and Tim Woolley’s Polar Capital held the leading stake in the company, worth over $4 billion.
3. argenx SE (NASDAQ:ARGX)
Number of Hedge Fund Holders: 35
argenx SE (NASDAQ:ARGX) is a biotechnology company focused on developing therapies for the treatment of autoimmune diseases in the United States, the Netherlands, Belgium, Japan, Switzerland, Germany, and France. argenx SE (NASDAQ:ARGX) was incorporated in 2008 and is based in Breda, the Netherlands. It is one of the best international stocks to monitor.
Oppenheimer analyst Leland Gershell initiated coverage of argenx SE (NASDAQ:ARGX) on October 11 with a Perform rating and no price target. The “impressive” early launch of VyVgart, authorized in late 2021 for generalized myasthenia gravis, supports Wall Street’s $3 billion global peak sales prediction in this indication. However, VyVgart “may be best-in-class”, but the anti-FcRn space is “becoming increasingly crowded,” the analyst told investors.
According to Insider Monkey’s data, 35 hedge funds were bullish on argenx SE (NASDAQ:ARGX) at the end of Q2 2022, compared to 31 funds in the last quarter. Kurt Von Emster’s VenBio Select Advisor is the largest stakeholder of the company, with 1.26 million shares worth $479.5 million.
Here is what Artisan Partners specifically said about argenx SE (NASDAQ:ARGX) in its Q2 2022 investor letter:
“argenx SE (NASDAQ:ARGX) is a commercial stage biotechnology company with an approved, first-, and potentially best-in-class therapy (FcRn) for autoimmune diseases. In its first full quarter of sales, Vyvgart meaningfully exceeded consensus sales expectations, indicating strong early market traction. In addition, it released positive phase 3 results for Vyvgart’s use in treating immune thrombocytopenia purpura, a blood disorder characterized by low platelet levels. We believe this second indication could receive FDA approval in early 2023, and the news confirms our thesis that Vyvgart is a “pipeline in a product”—a compelling new molecule which is likely to be safe and effective in numerous rare autoimmune disorders.”
2. Nutrien Ltd. (NYSE:NTR)
Number of Hedge Fund Holders: 48
Nutrien Ltd. (NYSE:NTR) is headquartered in Saskatoon, Canada, providing crop nutrients, crop protection products, seeds, and merchandise products in the United States, Canada, South America, and Australia. It is one of the best international stocks to watch, given rising potash and nitrogen prices, as well as an attractive valuation.
On August 9, Scotiabank analyst Ben Isaacson upgraded Nutrien Ltd. (NYSE:NTR) to Outperform from Sector Perform with a price target of $110, down from $118. The analyst is bullish on nitrogen and said investor conversations on Nutrien Ltd. (NYSE:NTR) “have transitioned to bullish from bearish.” He sees “strong valuation support” for the stock.
According to Insider Monkey’s data, 48 hedge funds were long Nutrien Ltd. (NYSE:NTR) at the end of Q2 2022, compared to 60 funds in the last quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the leading stakeholder of the company, with 8.3 million shares worth $668.3 million.
Here is what Miller/Howard Investments had to say about Nutrien Ltd. (NYSE:NTR) in its Q1 2021 investor letter:
“For the most part, performance of the stocks within the Income-Equity Strategies was skewed towards the high-performing market sectors with two exceptions – our consumer discretionary and technology stocks both did better than their broad market peers… We bought Nutrien (NTR), a producer of fertilizer, which we believe should benefit from increasing crop prices.”
1. Alibaba Group Holding Limited (NYSE:BABA)
Number of Hedge Fund Holders: 106
Alibaba Group Holding Limited (NYSE:BABA), the Chinese e-commerce and technology conglomerate, is one of the best international stocks to buy now. In the first week of October, Alibaba Group Holding Limited (NYSE:BABA), along with other Chinese tech stocks, rallied on the back of latest data on job openings and the labor market.
At the end of September, Morgan Stanley analyst Gary Yu reiterated an Overweight rating on Alibaba Group Holding Limited (NYSE:BABA) but lowered the price target on the shares to $110 from $140 as he previewed fiscal Q2 results. The analyst forecasts CMR to drop 4% year-over-year in Q2 due to soft consumption and weak merchant sentiment, but sees cost optimization supporting an EBITA beat.
Alibaba Group Holding Limited (NYSE:BABA) was part of 106 hedge fund portfolios in Q2 2022, compared to 100 in the last quarter. Ken Fisher’s Fisher Asset Management featured as the leading stakeholder of the company, with 14.5 million shares worth $1.6 billion.
Here is what Distillate Capital has to say about Alibaba Group Holding Limited (NYSE:BABA) in its Q2 2022 investor letter:
“Changes & Regional Weights: The largest new position is Alibaba Group Holding Limited (NYSE:BABA), which underperformed considerably and has seen its enterprise value fall by almost two thirds from its peak despite a net cash position on its balance sheet.”
You can also take a look at 12 Best Bear Market Stocks To Buy Now and 13 Best Video Game Stocks To Buy Now.
