3. HP Inc. (NYSE: HPQ)
Number of Hedge Fund Holders: 43
HP Inc. (NYSE: HPQ) is a technology company that has launched its 3D printing strategy, joining the additive manufacturing sector in 2016 and launching a range of polymer 3D printing systems, including Metal Jet technology. The company ranks 3rd on our list of the best 3D printing stocks to buy now.
Bernstein’s Toni Sacconaghi has commented this July that HP Inc.’s (NYSE: HPQ) current commentary on M&A has been constructive, and he thinks that the company’s market cap, which has grown by 34% in the past 19 months, may even enable it to buy Xerox at a 30% premium. The firm and analyst have a Market Perform rating on HP Inc. (NYSE: HPQ) with a $32 price target, while Citigroup has a Buy rating with a $40 price target on the shares, as of this May.
In the fiscal second quarter of 2021, the company’s EPS was $0.93 beating estimates by $0.04, and its revenue for the quarter was valued at $15.88 billion, also beating estimates by $916.77 million. The company has a gross profit margin of 19.38% and a forward PE ratio of 8.35. The stock gained 16.06% in the past 6 months and 24.1% year to date.
By the end of the first quarter of 2021, 43 hedge funds out of the 866 tracked by Insider Monkey held stakes in HP Inc. (NYSE: HPQ). The total value of their stakes came up to roughly $1.53 billion. This is compared to 39 hedge fund holders in the previous quarter with a total stake value of about $1.05 billion.