5 Oversold Blue Chip Stocks To Buy

In this article, we will be taking a look at 5 oversold blue chip stocks to buy. To read our detailed analysis, you can go directly to see the 10 Oversold Blue Chip Stocks To Buy.

5. BCE Inc. (NYSE:BCE)

Number of Hedge Fund Holders: 10

14-day RSI as of August 3: 27.52

BCE Inc. (NYSE:BCE) is a communications services company. It is based in Verdun, Canada.

A Hold rating was maintained on BCE Inc. (NYSE:BCE) shares on July 21 by Aravinda Galappatthig at Canaccord Genuity, alongside a $61 price target.

We saw 10 hedge funds long BCE Inc. (NYSE:BCE) in the first quarter, with a total stake value of $36.7 million.

4. HCA Healthcare, Inc. (NYSE:HCA)

Number of Hedge Fund Holders: 65

14-day RSI as of August 3: 26.72

A.J. Rice at Credit Suisse holds an Outperform rating on HCA Healthcare, Inc. (NYSE:HCA) shares, alongside a $316 price target, as of July 28.

HCA Healthcare, Inc. (NYSE:HCA) provides healthcare services in the US. It is based in Nashville, Tennessee.

A total of 65 hedge funds were long HCA Healthcare, Inc. (NYSE:HCA) in the first quarter, with a total stake value of $2.8 billion.

Baron Funds mentioned HCA Healthcare, Inc. (NYSE:HCA) in its second-quarter 2023 investor letter:

“The flip side of higher medical utilization trends is that health care providers and medical device companies will benefit. We own HCA Healthcare, Inc. (NYSE:HCA), one of the nation’s largest providers of health care services, with 182 hospitals and 2,300 ambulatory sites of care in 20 states and the U.K. We own several medical device companies that should benefit in the short term from procedure recovery and in the long term from new product innovation and increasing demand driven by an aging global population and a higher disease burden from chronic diseases. For the most part, our investments are in companies addressing non-elective procedures, which makes them less likely to be deferred in a recession.”

3. Stryker Corporation (NYSE:SYK)

Number of Hedge Fund Holders: 42

14-day RSI as of August 3: 26.34

Our hedge fund data shows 42 hedge funds long Stryker Corporation (NYSE:SYK) in the first quarter. Their total stake value was $2.5 billion.

Stryker Corporation (NYSE:SYK) is a medical technology company. It is based in Kalamazoo, Michigan.

An Outperform rating and a $325 price target were held on Stryker Corporation (NYSE:SYK) shares by Shagun Singh at RBC Capital on July 12.

ClearBridge Investments said the following about Stryker Corporation (NYSE:SYK) in its second-quarter 2022 investor letter:

“Supporting our widely-held names in the second quarter were solid contributions in health care, where we benefited from an overweight to medical device stocks Intuitive Surgical and Alcon which moved higher on signs of improving procedure growth. Supply chain headwinds and labor shortage bottlenecks are now easing while ambulatory surgery centers are adding more surgery hours, which should be a boon to these stocks as well as to orthopedic and spine surgery products specialist Stryker Corporation (NYSE:SYK).”

2. Edwards Lifesciences Corporation (NYSE:EW)

Number of Hedge Fund Holders: 47

14-day RSI as of August 3: 25.66

Edwards Lifesciences Corporation (NYSE:EW) provides products and tech for structural heart disease and critical care and surgical monitoring. It is based in Irvine, California.

Edwards Lifesciences Corporation (NYSE:EW) had 47 hedge funds long its stock in the first quarter, with a total stake value of $1.9 billion.

As of August 1. RBC Capital’s Shagun Singh holds an Outperform rating and a $96 price target on Edwards Lifesciences Corporation (NYSE:EW) shares.

This is what Baron Funds said about Edwards Lifesciences Corporation (NYSE:EW) in its fourth-quarter 2022 investor letter:

“Negative stock selection in health care equipment was related to sharp declines from fiber optic sensors manufacturer Opsens Inc., intravascular lithotripsy leader ShockWave Medical, Inc., and transcatheter aortic valve replacement pioneer Edwards Lifesciences Corporation (NYSE:EW) These companies were the top detractors from absolute performance, and we have detailed the reasons for recent share price weakness below.

Edwards Lifesciences Corp. is the leading provider of valves for patients with heart disease. Shares fell after the company’s transcatheter aortic valve replacement (TAVR) business missed Street expectations again. Management attributed the sales shortfall to disruption from hospital staffing shortages, an issue that has an outsized impact on TAVR procedures because they are resource-intensive and require multiple specialists. We reduced the position due to increased uncertainty around the growth outlook.”

1. TELUS International (NYSE:TU)

Number of Hedge Fund Holders: 14

14-day RSI as of August 3: 25.64

Drew McReynolds at RBC Capital holds an Outperform rating and a $31 price target on TELUS International (NYSE:TU) shares as of July 17.

There were 14 hedge funds long TELUS International (NYSE:TU) in the first quarter. Their total stake value was $104.4 million.

TELUS International (NYSE:TU) is a communication services company. It is based in Vancouver, Canada.

See also 11 Oversold Dividend Stocks to Invest In and 10 Oversold Biotech Stocks to Buy.