In this article, we discuss the 5 high growth international stocks to buy. If you want to read about some more high growth international stocks, go directly to 12 High Growth International Stocks to Buy.
5. Roivant Sciences Ltd. (NASDAQ:ROIV)
Number of Hedge Fund Holders: 44
Roivant Sciences Ltd. (NASDAQ:ROIV) is a commercial-stage biopharmaceutical company that engages in the development and commercialization of medicines for inflammation and immunology areas. On December 11, investment advisory Deutsche Bank initiated coverage of Roivant Sciences Ltd. (NASDAQ:ROIV) stock with a Buy rating and a price target of $14.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm QVT Financial is a leading shareholder in Roivant Sciences Ltd. (NASDAQ:ROIV) with 112 million shares worth more than $1.3 billion.
4. argenx SE (NASDAQ:ARGX)
Number of Hedge Fund Holders: 48
argenx SE (NASDAQ:ARGX) is a biotechnology company that focuses on developing various therapies for the treatment of autoimmune diseases. On December 21, investment advisory Truist maintained an Outperform rating on Argenx SE (NASDAQ:ARGX) stock and lowered the price target to $370 from $550.
At the end of the third quarter of 2023, 48 hedge funds in the database of Insider Monkey held stakes worth $2.2 billion in argenx SE (NASDAQ:ARGX), compared to 47 in the preceding quarter worth $1.9 billion.
In its Q3 2023 investor letter, TimesSquare Capital Management, an asset management firm, highlighted a few stocks and argenx SE (NASDAQ:ARGX) was one of them. Here is what the fund said:
“Our preference within Health Care is for novel therapies to address unmet medical needs, specialized providers, and innovators. argenx SE (NASDAQ:ARGX) is a global immunology company focused on autoimmune diseases. Their share price advanced 28% after outpacing estimates and aided by sales of Vyvgart for treating myasthenia gravis. Management also gave an encouraging update on clinical readouts and their expanding pipeline.”
3. Novo Nordisk A/S (NYSE:NVO)
Number of Hedge Fund Holders: 51
Novo Nordisk A/S (NYSE:NVO) is a healthcare firm based in Denmark. On December 5, investment advisory JPMorgan maintained an Overweight rating on Novo Nordisk A/S (NYSE:NVO) stock and raised the price target to DKK 850 from DKK 800.
At the end of the third quarter of 2023, 51 hedge funds in the database of Insider Monkey held stakes worth $2.2 billion in Novo Nordisk A/S (NYSE:NVO), compared to 43 in the previous quarter worth $778 million.
In its Q3 2023 investor letter, Polen Capital highlighted a few stocks and Novo Nordisk A/S (NYSE:NVO) was one of them. Here is what the fund said:
“We added new positions in Eli Lilly and Novo Nordisk A/S (NYSE:NVO) in the third quarter. We have been monitoring Lilly and Novo Nordisk for some time, and new clinical results from a recent drug trial give us confidence in the large upside potential for GLP-1s. These results from a Novo Nordisk study showed impressive cardiovascular outcomes for its GLP-1, Wegovy. This study of over 17,000 overweight or obese people with established cardiovascular disease (but without diabetes) showed that Wegovy reduced the likelihood of major adverse cardiovascular events (heart attack, stroke, sudden cardiac death) by over 20% for up to five years. This large and well-controlled trial helps to demonstrate that the weight loss benefits of GLP-1s (likely similar for Mounjaro and Wegovy) lead to better health outcomes for patients and likely save the healthcare system significant amounts of money over the long term. In our view, this makes it very unlikely that payors and governments will deny patient access and reimbursement for these drugs for the long haul (hence the positive stock price moves for Lilly and Novo when the data was released mid-quarter).
We have started with a small 1% position in Lilly, but when paired with our new holding in Novo Nordisk at 2% (NVO is slightly larger as its valuation is lower), it represents a 3% combined position in the two companies we expect to maintain a duopoly in this large drug class over the next several years.
Novo Nordisk has a long history as the leader in diabetes pharmaceuticals. It is much more narrowly focused on diabetes than Lilly with its GLP-1 drugs, Ozempic and Wegovy (Wegovy is the same drug as Ozempic but uses a different name for obesity), driving most of the company’s revenue and earnings growth. The cardiovascular outcomes trial mentioned above is a big positive for Novo. It establishes the duopoly with Lilly in insulin management for Type 2 diabetics and weight loss for the huge number of overweight and obese people across the globe.
Novo has more legacy diabetes products that its newer drugs will cannibalize, but our research indicates that we can expect high-teens earnings per share growth from Novo over the next five years. In addition, both Novo and Lilly have next-generation diabetes and weight loss drugs in development that appear even more effective than the current offerings while also offering new treatment modalities, such as oral drugs versus today’s auto injectables.”
2. ASML Holding N.V. (NASDAQ:ASML)
Number of Hedge Fund Holders: 57
ASML Holding N.V. (NASDAQ:ASML) makes and sells advanced semiconductor equipment systems. On November 30, investment advisory JPMorgan maintained an Overweight rating on ASML Holding N.V. (NASDAQ:ASML) stock and raised the price target to EUR 800 from EUR 690.
Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in ASML Holding N.V. (NASDAQ: ASML) with 4.8 million shares worth more than $2.8 billion.
1. Shopify Inc. (NYSE:SHOP)
Number of Hedge Fund Holders: 69
Shopify Inc. (NYSE:SHOP) is a commerce company that provides a commerce platform and services worldwide. On December 6, investment advisory RBC Capital maintained an Outperform rating on Shopify Inc. (NYSE:SHOP) stock and raised the price target to $100 from $80.
Among the hedge funds being tracked by Insider Monkey, St. Petersburg, Florida-based investment firm ARK Investment Management is a leading shareholder in Shopify Inc. (NYSE:SHOP) with 6.9 million shares worth more than $379 million.
In its Q3 2023 investor letter, Fred Alger Management, an asset management firm, highlighted a few stocks and Shopify Inc. (NYSE:SHOP) was one of them. Here is what the fund said:
“Shopify Inc. (NYSE:SHOP) operates a cloud-based commerce platform designed for small and medium-sized businesses. Its software is used by merchants to run business across all sales channels, including web, tablet and mobile storefronts, social media storefronts, and brick-and-mortar and pop-up shops. The firm’s platform provides merchants with a single view of business and customers and enables them to manage products and inventory, process orders and payments, build customer relationships and leverage analytics and reporting. While the company’s shares nearly doubled in the first half of 2023, market sentiment deteriorated towards unprofitable technology companies during the third quarter, as shares detracted from performance. Despite the share price decline, we continue to remain positive on the company’s asset-light model within the vast eCommerce market and believe that we are in the early innings of the company’s renowned focus on operational efficiency and profitability.”
You can also take a peek at 14 Best Hot Stocks To Buy Now and 12 Best Foreign Stocks With Dividends.
