5 Best-Performing Growth Stocks in November 2022

In this article, we discuss the 5 best-performing growth stocks in November 2022. If you want to see more stocks in this selection, 10 Best-Performing Growth Stocks in November 2022. 

5. Abiomed, Inc. (NASDAQ:ABMD)

Number of Hedge Fund Holders: 34

1-Month Share Price Gain as of November 30: 49.75%

Abiomed, Inc. (NASDAQ:ABMD) is one of the best-performing growth stocks as of November 2022. Abiomed, Inc. (NASDAQ:ABMD) is a Massachusetts-based company specializing in the research, development, and commercialization of medical devices to assist or replace the pumping function of the failing heart.

On November 1, Johnson & Johnson (NYSE:JNJ) announced that it has agreed to acquire Abiomed, Inc. (NASDAQ:ABMD) for an upfront payment of $380 per share in cash. The deal, valued at nearly $16.6 billion, including debt and cash, is expected to conclude before Q1 2023 ends.

Morgan Stanley analyst Cecilia Furlong upgraded Abiomed, Inc. (NASDAQ:ABMD) on November 2 to Equal Weight from Underweight with a price target of $380, up from $235, after Johnson & Johnson (NYSE:JNJ) agreed to acquire all outstanding shares of Abiomed, Inc. (NASDAQ:ABMD). She was priorly cautious on the short-term setup for the stock, but believes the transaction is likely to happen, the analyst told investors.

According to Insider Monkey’s data, 34 hedge funds were long Abiomed, Inc. (NASDAQ:ABMD) at the end of Q3 2022, compared to 30 funds in the last quarter. David Blood and Al Gore’s Generation Investment Management is the largest stakeholder of the company, with 1.3 million shares worth $328.3 million.