16 Best Mid-Cap Growth Stocks To Buy Now

Published on January 12, 2024 at 9:23 am by Fahad Saleem in Hedge Funds, News

In this article, we will take a detailed look at the 16 Best Mid-Cap Growth Stocks To Buy Now. For a quick overview of such stocks, read our article 5 Best Mid-Cap Growth Stocks To Buy Now.

Investors are hopeful that small- and mid-cap stocks will experience a broader rally this year after getting hammered for most part of the previous year as all eyes remain focused on the Magnificent Seven group of stocks amid the AI boom. Noah Blackstein, senior portfolio manager at Dynamic Fund, said in a program on CNBC that market returns were “broadening out” to small- and mid-cap stocks and these stocks are expected to catch up in 2024.

Despite their lackluster performance in 2023, mid-cap stocks managed to end the year at a positive note when compared to large- and small-cap stocks. The S&P MidCap 400 was up 14.5% to 2781.54 in 2023. This was just 5% below the index’s record high level. Compared to mid-cap stocks, the S&P 500 large-cap index was up 24.2% while the Russell 2000 small-cap index was up 15.1% in the period.

According to a latest Wall Street Journal report, Karim Ahamed, an investment adviser for Cerity Partners in Chicago, said that mid-cap stocks provide a decent blend of growth potential (of small-cap stocks) and financial stability (of large-cap stocks).

As investors prepare to look beyond mega-cap tech stocks like Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN) and NVIDIA Corp (NASDAQ:NVDA) in 2024 and invest in other, relatively unknown companies with growth potential, we decided to see which mid-cap stocks with high revenue growth are popular among smart money investors.

Photo by Kaleidico on Unsplash

Methodology

For this article we first used a stock screener to identify mid-cap stocks with revenue growth rates of over 30% over the past five years as well as in the most recent quarters. From these stocks we chose 16 stocks with the highest number of hedge fund investors. Why hedge funds? Hedge funds’ top 10 consensus stock picks outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). That’s why we pay very close attention to this often-ignored indicator.

16. Progyny Inc (NASDAQ:PGNY)

Number of Hedge Fund Investors: 32

Benefits management company Progyny Inc (NASDAQ:PGNY) is one of the best mid-cap growth stocks to buy according to hedge funds. In November, Progyny Inc (NASDAQ:PGNY) posted third quarter results. GAAP EPS in the period came in at $0.16, beating estimates by $0.05. Revenue jumped about 36.8% year over year to $280.9 million, beating estimates by $9.55 million.

Polen Global SMID Company Growth Strategy made the following comment about Progyny, Inc. (NASDAQ:PGNY) in its Q3 2023 investor letter:

“We bought a new position in Progyny, Inc. (NASDAQ:PGNY), a company owned in our U.S. strategies for some time. They are a leading provider of fertility benefit solutions, and through their differentiated approach, their clients can pursue the most effective treatment and achieve optimal outcomes. We believe the company has only a mid-single digit share of its potential total addressable market and is the most dominant player within the fast-growing managed care category. They are already profitable, earn high returns on incremental capital, and have plenty of runway to grow top-line growth as they continue to win new clients and add new services.”

15. Shoals Technologies Group Inc (NASDAQ:SHLS)

Number of Hedge Fund Investors: 33

Goldman Sachs recently released a list of 2023 laggards it believes could gain in 2024. Shoals Technologies Group Inc (NASDAQ:SHLS) made it to the list.

A total of 33 hedge funds tracked by Insider Monkey had stakes in Shoals Technologies Group Inc (NASDAQ:SHLS) that provides electrical balance of system (EBOS) solutions for solar and electric vehicle charging applications in the United States.

ClearBridge Select Strategy made the following comment about Shoals Technologies Group, Inc. (NASDAQ:SHLS) in its Q3 2023 investor letter:

“Solar energy technology companies SolarEdge and Shoals Technologies Group, Inc. (NASDAQ:SHLS), meanwhile, saw headwinds from destocking in the U.S. and Europe. U.S. demand could slow further due to new net metering rules that reduce the value to consumers from sending excess residential solar energy back to the grid. SolarEdge, which makes inverters for solar systems as well as residential and commercial battery systems, is also facing rising battery competition in the U.S. from Tesla.”

14. Confluent Inc (NASDAQ:CFLT)

Number of Hedge Fund Investors: 34

Data streaming platform company Confluent Inc (NASDAQ:CFLT) is one of the best mid-cap growth stocks to buy according to hedge funds. In November, Bernstein started covering the stock with an Outperform rating and a $34 price target.

As of the end of the third quarter, 34 hedge funds tracked by Insider Monkey had stakes in Confluent Inc (NASDAQ:CFLT).

13. Shockwave Medical Inc (NASDAQ:SWAV)

Number of Hedge Fund Investors: 34

Medical device company Shockwave Medical Inc (NASDAQ:SWAV) ranks 13th in our list of the best mid-cap growth stocks to buy according to hedge funds. The stock has gained about 11% over the past one month through January 5. In November Shockwave Medical Inc (NASDAQ:SWAV) posted strong Q3 results. GAAP EPS in the quarter came in at $0.92, beating estimates by $0.12. Revenue in the quarter jumped 41.6% year over year to $186.02 million, surpassing estimates by $1.3 million.

A total of 34 hedge funds in Insider Monkey’s database of 910 hedge funds had stakes in Shockwave Medical Inc (NASDAQ:SWAV). The biggest hedge fund stakeholder of Shockwave Medical Inc (NASDAQ:SWAV) was Paul Marshall and Ian Wace’s Marshall Wace LLP which owns an $112 million stake in Shockwave Medical Inc (NASDAQ:SWAV).

ClearBridge Mid Cap Growth Strategy made the following comment about Shockwave Medical, Inc. (NASDAQ:SWAV) in its Q3 2023 investor letter:

“We also added a new position in Shockwave Medical, Inc. (NASDAQ:SWAV), in the health care sector. The company’s innovative products help clear blockages inside arteries at a lower risk and higher efficiency than other, traditional solutions leading to more optimal outcomes for patients with coronary, vascular and heart valve diseases. We believe these innovations leave Shockwave poised for higher growth, improved margins and attractive free cash flow in a large, total addressable market.”

12. Monday.Com Ltd (NASDAQ:MNDY)

Number of Hedge Fund Investors: 37

Project management software company Monday.Com Ltd (NASDAQ:MNDY) shares rose in November after strong Q3 results and a bullish Q4 outlook. Monday.Com Ltd (NASDAQ:MNDY) expects revenue of $196 million to $198 million in the fourth quarter of 2023, while the consensus estimate for the figure is $.194.96 million.

Out of the 910 hedge funds tracked by Insider Monkey, 37 hedge funds reported owning stakes in Monday.Com Ltd (NASDAQ:MNDY). The most significant stake in Monday.Com Ltd (NASDAQ:MNDY) is owned by Brandon Haley’s Holocene Advisors which owns a $114 million stake in Monday.Com Ltd (NASDAQ:MNDY). In addition to Monday.com, hedge funds are also piling into mega-cap stocks like Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN) and NVIDIA Corp (NASDAQ:NVDA).

11. Intra-Cellular Therapies Inc (NASDAQ:ITCI)

Number of Hedge Fund Investors: 37

Bank of America recently released a list of its favorite SMID-cap biotech stocks for 2024. Intra-Cellular Therapies Inc (NASDAQ:ITCI) made it to the list. In December, the stock came in the spotlight amid takeover speculation following rumors that JPMorgan and Centerview may be involved with advising on a deal, according to Betaville.

Insider Monkey’s database of 910 hedge funds shows that 37 hedge funds had stakes in Intra-Cellular Therapies Inc (NASDAQ:ITCI).

TimesSquare Capital made the following comment about Intra-Cellular Therapies, Inc. (NASDAQ:ITCI) in its Q3 2022 investor letter:

“Slipping by -18% was Intra-Cellular Therapies, Inc. (NASDAQ:ITCI), which develops small molecule treatments for neurological disorders. The company reported revenues that were better than expected, though earnings were lower. There was an acceleration of sales for Caplyta, a treatment for schizophrenia and bipolar depression. However, some investors appeared concerned that as Caplyta volumes increased to a higher level that the rate of growth will slow. We view the projected growth trajectory positively, as well as Caplyta’s potential for use in other indications, so we added to our position.”

10. BridgeBio Pharma Inc (NASDAQ:BBIO)

Number of Hedge Fund Investors: 41

California-based BridgeBio Pharma Inc (NASDAQ:BBIO) ranks 10th in our list of the best mid-cap growth stocks to buy now according to smart money investors.

As of the end of the third quarter of 2023, 41 hedge funds tracked by Insider Monkey had stakes in BridgeBio Pharma Inc (NASDAQ:BBIO).

In December, BridgeBio Pharma Inc (NASDAQ:BBIO) said it submitted a New Drug Application to the FDA for approval of its drug acoramidis for the treatment of ATTR-CM, a potentially fatal disease of the heart muscle.

9. Gitlab Inc (NASDAQ:GTLB)

Number of Hedge Fund Investors: 42

Gitlab Inc (NASDAQ:GTLB) shares recently jumped after the company posted strong third quarter results. Gitlab Inc (NASDAQ:GTLB) said it earned $0.09 per share on an adjusted basis in the period, beating estimates by $0.10.

Revenue in the period jumped 32.5% year over year to $149.67 million, surpassing estimates by $8.66 million.

A total of 42 hedge funds tracked by Insider Monkey had stakes in Gitlab Inc (NASDAQ:GTLB) as of the end of the September quarter. The biggest stake in Gitlab Inc (NASDAQ:GTLB) is owned by Mick Hellman’s HMI Capital which had a $328 million stake in Gitlab Inc (NASDAQ:GTLB).

8. Roivant Sciences Ltd (NASDAQ:ROIV)

Number of Hedge Fund Investors: 44

Led by American businessman and presidential candidate Vivek Ramaswamy, Roivant Sciences Ltd (NASDAQ:ROIV) is a biotech company headquartered in the UK. Ramaswamy recently sold over $33 million worth of shares of Roivant Sciences Ltd (NASDAQ:ROIV).

As of the end of the third quarter of 2023, 44 hedge funds tracked by Insider Monkey had stakes in Roivant Sciences Ltd (NASDAQ:ROIV). The most significant stake in Roivant Sciences Ltd (NASDAQ:ROIV) is owned by Daniel Gold’s QVT Financial which owns a $1.3 billion stake in Roivant Sciences Ltd (NASDAQ:ROIV).

As the market begins to look beyond just a handful of names like Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN) and NVIDIA Corp (NASDAQ:NVDA), mid-cap stocks like ROIV are poised to remain in the spotlight this year.

7. Lantheus Holdings Inc (NASDAQ:LNTH)

Number of Hedge Fund Investors: 44

Diagnostic and therapeutic products company Lantheus Holdings Inc (NASDAQ:LNTH) ranks 7th in our list of the best mid-cap growth stocks to invest in according to hedge funds.

A total of 44 hedge funds out of the 910 funds tracked by Insider Monkey were long Lantheus Holdings Inc (NASDAQ:LNTH) as of the end of the September quarter.

Earlier this month, Lantheus Holdings Inc (NASDAQ:LNTH) stock was downgraded by William Blair to market perform. The investment firm cited disappointing data for Lantheus Holdings Inc’s (NASDAQ:LNTH) prostate cancer drug candidate PNT2002.

ClearBridge Small Cap Growth Strategy made the following comment about Lantheus Holdings, Inc. (NASDAQ:LNTH) in its Q3 2023 investor letter:

“We also made an investment in Lantheus Holdings, Inc. (NASDAQ:LNTH), which offers a portfolio of diagnostic health care products, primarily serving the complex nuclear imaging market. The company also has a pipeline of disruptive nuclear therapeutics (radiopharmaceuticals), creating a unique combination of strong profitability and cash flow generation with attractive growth opportunities in pipeline and existing products. The operational and logistical challenges of operating in nuclear medicine provide Lantheus a durable moat in this emerging therapeutic market.”

6. Procore Technologies Inc (NYSE:PCOR)

Number of Hedge Fund Investors: 43

Cloud-based construction management platform company Procore Technologies Inc (NYSE:PCOR) ranks 6th in our list of the best mid-cap growth stocks to buy according to hedge funds. As of the end of the September quarter, 43 hedge funds tracked by Insider Monkey had stakes in Procore Technologies Inc (NYSE:PCOR). The biggest hedge fund stakeholder of Procore Technologies Inc (NYSE:PCOR) was Eric Bannasch’s Cadian Capital which owns a $198 million stake in Procore Technologies Inc (NYSE:PCOR).

Artisan Small Cap Fund made the following comment about Procore Technologies, Inc. (NYSE:PCOR) in its Q3 2023 investor letter:

“Procore Technologies, Inc. (NYSE:PCOR) is a construction management software company with several products used for project management, quality and safety, and project financials. Its customers include building owners, general contractors and sub-contractors. Our conviction was increased after attending an analyst day in the quarter. Not only were we able to speak to customers at the event, but we got to test drive more of its software applications, including payments and invoicing. Construction is a cyclical industry. However, over time we believe the company’s profit cycle will become more stable than its end market given an ongoing digitalization trend within the construction industry, a diverse client base, large backlogs, high customer retention and the ability to cross-sell products that improve efficiency and margins. Furthermore, the company has access to a lot of data and is exploring AI as a way to help customers become more efficient, potentially enhancing its value proposition and pricing power.”

Click to continue reading and see the 5 Best Mid-Cap Growth Stocks To Buy Now.

Suggested Articles:

Disclosure. None. 16 Best Mid-Cap Growth Stocks To Buy Now was initially published on Insider Monkey.

Headline NYSE:PCOR NASDAQ:GTLB NASDAQ:BBIO NASDAQ:SWAV Show more...

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on May 7, 2025 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

The AI infrastructure supercycle
The onshoring boom driven by Trump-era tariffs
A surge in U.S. LNG exports
And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on our AI, Tariffs, and Nuclear Energy Stock with 100+% potential upside within 12 to 24 months

• BONUS REPORT on our #1 AI-Robotics Stock with 10000% upside potential: Our in-depth report dives deep into our #1 AI/robotics stock’s groundbreaking technology and massive growth potential.

• One New Issue of Our Premium Readership Newsletter: You will also receive one new issue per month and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Content: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a month of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• Lifetime Price Guarantee: Your renewal rate will always remain the same as long as your subscription is active.

• 30-Day Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

Insider Monkey Ads

A New Dawn is Coming to U.S. Stocks

Published on January 7, 2025 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up

16 Best Mid-Cap Growth Stocks To Buy Now

Published on January 12, 2024 at 9:23 am by Fahad Saleem in Hedge Funds, News

16. Progyny Inc (NASDAQ:PGNY)

15. Shoals Technologies Group Inc (NASDAQ:SHLS)

14. Confluent Inc (NASDAQ:CFLT)

13. Shockwave Medical Inc (NASDAQ:SWAV)

12. Monday.Com Ltd (NASDAQ:MNDY)

11. Intra-Cellular Therapies Inc (NASDAQ:ITCI)

10. BridgeBio Pharma Inc (NASDAQ:BBIO)

9. Gitlab Inc (NASDAQ:GTLB)

8. Roivant Sciences Ltd (NASDAQ:ROIV)

7. Lantheus Holdings Inc (NASDAQ:LNTH)

6. Procore Technologies Inc (NYSE:PCOR)

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on May 7, 2025 at by Inan Dogan, PhD

A New Dawn is Coming to U.S. Stocks

Published on January 7, 2025 at by Insider Monkey Staff

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Premium

Log In

Sign Up

16 Best Mid-Cap Growth Stocks To Buy Now

Published on January 12, 2024 at 9:23 am by Fahad Saleem in Hedge Funds, News

Share

16. Progyny Inc (NASDAQ:PGNY)

15. Shoals Technologies Group Inc (NASDAQ:SHLS)

14. Confluent Inc (NASDAQ:CFLT)

13. Shockwave Medical Inc (NASDAQ:SWAV)

12. Monday.Com Ltd (NASDAQ:MNDY)

11. Intra-Cellular Therapies Inc (NASDAQ:ITCI)

10. BridgeBio Pharma Inc (NASDAQ:BBIO)

9. Gitlab Inc (NASDAQ:GTLB)

8. Roivant Sciences Ltd (NASDAQ:ROIV)

7. Lantheus Holdings Inc (NASDAQ:LNTH)

6. Procore Technologies Inc (NYSE:PCOR)

Share

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Published on May 7, 2025 at by Inan Dogan, PhD

A New Dawn is Coming to U.S. Stocks

Published on January 7, 2025 at by Insider Monkey Staff