In this piece, we will take a look at the five best S&P 500 stocks to buy according to analysts. For all the details about the S&P 500’s journey so far in 2024, check out the 12 Best S&P 500 Stocks To Buy According to Analysts.
5. United Airlines Holdings, Inc. (NASDAQ:UAL)
Number of Q4 2023 Hedge Fund Shareholders: 43
Average Analyst Share Price Target: $65
Percentage Upside: 35.30%
United Airlines Holdings, Inc. (NASDAQ:UAL) is one of the biggest airlines in the world. 2024 is proving to be a troublesome month for the firm as it battles increased oversight from the Federal Aviation Administration (FAA) after nearly a dozen scares on its flights.
During Q4 2023, 43 out of the 933 hedge funds part of Insider Monkey’s database had bought and owned United Airlines Holdings, Inc. (NASDAQ:UAL)’s shares. Ken Griffin’s Citadel Investment Group was the largest investor due to its $193 million stake.
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4. Insulet Corporation (NASDAQ:PODD)
Number of Q4 2023 Hedge Fund Shareholders: 50
Average Analyst Share Price Target: $237
Percentage Upside: 38.20%
Insulet Corporation (NASDAQ:PODD) is a specialty medical devices company that makes and sells products that help diabetics take insulin. It’s one of the highest rated stocks on our list, with an average share rating of Strong Buy. The average share price target of $237 also prices in a nice 38.20% upside.
As of December 2023 end, 50 out of the 933 hedge funds profiled by Insider Monkey were the firm’s shareholders. The biggest Insulet Corporation (NASDAQ:PODD) shareholder in our database is Ken Griffin’s Citadel Investment Group as it owns 1.3 million shares that are worth $288 million.
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3. Biogen Inc. (NASDAQ:BIIB)
Number of Q4 2023 Hedge Fund Shareholders: 51
Average Analyst Share Price Target: $304
Percentage Upside: 41.09%
Biogen Inc. (NASDAQ:BIIB) is a sizeable drug manufacturer that makes and sells medicines used to treat nervous system disorders and other ailments. The firm is in store for an interesting couple of months, as it waits for the EU’s analysis of its drug for Alzheimer’s Disease developed in partnership with a Japanese firm.
Insider Monkey dug through 933 hedge fund portfolios for last year’s fourth quarter and found 51 Biogen Inc. (NASDAQ:BIIB) shareholders. Samuel Isaly’s OrbiMed Advisors owned the biggest stake which was worth $214 million.
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2. Newmont Corporation (NYSE:NEM)
Number of Q4 2023 Hedge Fund Shareholders: 53
Average Analyst Share Price Target: $54
Percentage Upside: 51.87%
Newmont Corporation (NYSE:NEM) is an American metals mining company that produces gold, copper, and other metals. The firm is currently looking to raise capital and plans to sell a gold mine in Ghana to this effect.
For their December quarter of 2023 shareholdings, 53 out of the 933 hedge funds tracked by Insider Monkey had invested in the firm. Newmont Corporation (NYSE:NEM)’s largest investor among these is Jean-Marie Eveillard’s First Eagle Investment Management due to its $983 million investment.
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1. Warner Bros. Discovery, Inc. (NASDAQ:WBD)
Number of Q4 2023 Hedge Fund Shareholders: 56
Average Analyst Share Price Target: $14
Percentage Upside: 55.90%
Warner Bros. Discovery, Inc. (NASDAQ:WBD) is one of the biggest media and entertainment companies in the world. Amidst troubling financial performance that has seen the firm miss analyst EPS estimates in all four of its latest quarters, it has teamed up with other broadcasters for a sports streaming service.
56 out of the 933 hedge funds tracked by Insider Monkey during Q4 2023 had bought a stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) as of Q4 2023 end. Natixis Global Asset Management’s Harris Associates was the biggest shareholder as it owned $ worth of shares.
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Disclosure: None. You can also take a look at the 15 Highest Paying Countries for Automotive Engineers and 16 Best Passive Income Stocks To Buy According to Hedge Funds.
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