In this article, we will take a look at the 5 most promising mid-cap stocks according to analysts. To see more such companies, go directly to 15 Most Promising Mid-Cap Stocks According to Analysts.
5. Reinsurance Group of America, Incorporated (NYSE:RGA)
Number of Hedge Fund Holders: 33
One-Year Price Target: $157.36
Missouri-based Reinsurance Group of America, Incorporated (NYSE:RGA) shares have gained about 28% over the past 12 months. However, Reinsurance Group of America, Incorporated (NYSE:RGA)’s one-year average price estimate shows that Wall Street analysts believe the stock has more room to run. Earlier in February, the reinsurance services company declared a quarterly dividend of $0.80 per share. Forward dividend yield at the time came in at 2.18%. The dividend is payable on February 28 to shareholders of record as of February 14.
4. Performance Food Group Company (NYSE:PFGC)
Number of Hedge Fund Holders: 33
One-Year Price Target: $71.71
Shares of Performance Food Group Company (NYSE:PFGC) have gained about 12% over the past 12 months. Earlier this month Performance Food Group Company (NYSE:PFGC) posted its fiscal second quarter results. Performance Food Group Company (NYSE:PFGC)’s adjusted EPS in the period came in at $0.83, beating estimates by $0.08. Revenue in the period jumped about 8.3% to reach $13.89 billion.
3. Pure Storage, Inc. (NYSE:PSTG)
Number of Hedge Fund Holders: 35
One-Year Price Target: $38.75
Pure Storage, Inc. (NYSE:PSTG) is a California-based technology company. Pure Storage, Inc. (NYSE:PSTG) has gained about 17% over the past 12 months. In November, Pure Storage, Inc. (NYSE:PSTG) posted its third quarter results. Adjusted EPS in the quarter came in at $0.31, beating estimates by $0.06. Revenue in the quarter jumped about 20.1% on a YoY basis to reach $676 million, beating estimates by $3.92 million. Pure Storage, Inc. (NYSE:PSTG)’s subscription services revenue in the quarter jumped 30% on a YoY basis to total $244.8 million.
At the end of the third quarter of 2022, 35 hedge funds out of the 920 funds tracked by Insider Monkey had stakes in Pure Storage, Inc. (NYSE:PSTG). The total value of these stakes was about $1.1 billion. The biggest stakeholder of Pure Storage, Inc. (NYSE:PSTG) during this period was Alex Sacerdote’s Whale Rock Capital Management which had a $160 million stake in the company.
2. Lennox International Inc. (NYSE:LII)
Number of Hedge Fund Holders: 35
One-Year Price Target: $266.43
Climate control products company Lennox International Inc. (NYSE:LII) has a significant upside potential, according to Wall Street Journal. In December, Mizuho Securities upgraded Lennox International Inc. (NYSE:LII) to Neutral from Underperform. Mizuho’s analysts believe Lennox International Inc. (NYSE:LII)’s commercial segment has shown improvement. They said the “bearish sentiment could be near peak as it relates to areas of the residential complex.” The firm also upped its price target for Lennox International Inc. (NYSE:LII) to $260 from $210.
At the end of the third quarter of 2022, 35 hedge funds tracked by Insider Monkey had stakes in Lennox International Inc. (NYSE:LII), up from 26 funds in the previous quarter.
1. Jazz Pharmaceuticals plc (NASDAQ:JAZZ)
Number of Hedge Fund Holders: 43
One-Year Price Target: $201.39
Jazz Pharmaceuticals plc (NASDAQ:JAZZ) ranks 1st in our list of the most promising mid-cap stocks according to analysts. In December, Jazz Pharmaceuticals plc (NASDAQ:JAZZ) jumped after Goldman Sachs upgraded it to Buy from Neutral, citing a positive outlook for its operating margins.
Goldman’s Madhu Kumar believes Jazz Pharmaceuticals plc (NASDAQ:JAZZ) has performed in line with the management’s guidance.
He believes Jazz Pharmaceuticals plc (NASDAQ:JAZZ) would be able to “maintain these operating margin improvements into 2025, even without substantial top-line growth from key franchises.”
You can also take a peek at 10 Hot Tech Stocks To Buy Now and 10 Hot Healthcare Stocks To Buy Now.
