5 Under-the-Radar Stocks Billionaires Are Loading Up On

In this article, we discuss 5 under-the-radar stocks billionaires are loading up on. If you want to read our detailed analysis of the market and its outlook this year, go directly to read 10 Under-the-Radar Stocks Billionaires Are Loading Up On. 

5. Mettler-Toledo International Inc. (NYSE:MTD)

Number of Billionaire Investors: 13
Number of Hedge Fund Holders: 47

Mettler-Toledo International Inc. (NYSE:MTD) is an Ohio-based multinational manufacturing company that specializes in scales and analytical instruments. In May, Wells Fargo raised its price target on the stock to $1,660 and kept an Overweight rating on the shares, following the company’s recent quarterly earnings.

In the first quarter of 2023, Mettler-Toledo International Inc. (NYSE:MTD) posted revenue of $928.7 million, which showed a 3.4% growth from the same period last year. The company had over $89 million available in cash and cash equivalents at the end of March 2023.

Billionaire Terry Smith’s Fundsmith LLP was the largest stakeholder of Mettler-Toledo International Inc. (NYSE:MTD) in Q1 2023. Overall, 47 hedge funds tracked by Insider Monkey owned stakes in the company in Q1, up significantly from 34 a quarter earlier. The collective value of these stakes is over $1.78 billion.

Baron Funds mentioned Mettler-Toledo International Inc. (NYSE:MTD) in its Q1 2023 investor letter. Here is what the firm has to say:

“These negative effects were somewhat offset by favorable stock selection in pharmaceuticals and life sciences tools & services, where performance was led by global animal health company Zoetis Inc. and weighing instruments provider Mettler-Toledo International Inc. (NYSE:MTD), respectively. Mettler’s shares outperformed in response to strong financial results, driven by broad-based strength across geographies and product categories. Additionally, management raised EPS guidance for fiscal year 2023 to account for less adverse foreign currency impacts versus the prior forecast. The Fund also benefited from its lack of exposure to select large-cap pharmaceutical companies, namely Pfizer Inc. and Johnson & Johnson, whose shares were down double digits for the quarter.”

4. Hologic, Inc. (NASDAQ:HOLX)

Number of Billionaire Investors: 13
Number of Hedge Fund Holders: 40

Hologic, Inc. (NASDAQ:HOLX) is an American health technology company that primarily focuses on women’s health. In its fiscal Q2 2023, the company generated $1.03 billion in revenues, which beat analysts’ estimates by $72.4 million. Its operating cash flow for the quarter came in at over $206.3 million. It is among the under-the-radar stocks billionaires are loading up on.

JPMorgan raised its price target on Hologic, Inc. (NASDAQ:HOLX) to $105 and maintained an Overweight rating on the shares, highlighting the company’s strong quarter.

As of the close of Q1 2023, 40 hedge funds in Insider Monkey’s database owned stakes in Hologic, Inc. (NASDAQ:HOLX), up from 39 in the preceding quarter. Billionaires Cliff Asness, Ken Griffin, and Ray Dalio were some of the company’s leading stakeholders in Q1.

3. Westinghouse Air Brake Technologies Corporation (NYSE:WAB)

Number of Billionaire Investors: 14
Number of Hedge Fund Holders: 52

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) is next on our list of under-the-radar stocks billionaires are piling into. The industry company was a popular buy among elite funds in Q1 2023. As per Insider Monkey’s database, 52 hedge funds owned stakes in the company in Q1, up from 41 in the previous quarter. Their collective stake value is over $2.76 billion. Billionaire Thomas Steyer was one of the company’s leading stakeholders in Q1.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) is also a dividend stock, offering a quarterly dividend of $0.17 per share to shareholders. The stock’s dividend yield on June 8 came in at 0.69%.

2. Teck Resources Limited (NYSE:TECK)

Number of Billionaire Investors: 14
Number of Hedge Fund Holders: 66

Teck Resources Limited (NYSE:TECK) is a Canada-based mining company that is engaged in the mining and mineral development of a wide range of commodities. Deutsche Bank raised its price target on the stock to $47 in May with a Buy rating on the shares, presenting a positive outlook on metals and mining companies.

The number of hedge funds tracked by Insider Monkey owning stakes in Teck Resources Limited (NYSE:TECK) grew to 66 in Q1 2023, from 62 in the previous quarter. These stakes are collectively worth over $2 billion. Billionaire John Armitage’s Egerton Capital Limited was one of the company’s largest stakeholders with roughly 10 million shares.

1. Live Nation Entertainment, Inc. (NYSE:LYV)

Number of Billionaire Investors: 14
Number of Hedge Fund Holders: 37

Live Nation Entertainment, Inc. (NYSE:LYV) tops our list of under-the-radar stocks. The entertainment company was a part of 37 hedge fund portfolios in Q1 2023, according to Insider Monkey’s database. The stakes owned by these hedge funds have a collective value of over $1.5 billion. Billionaire Ken Griffin’s Citadel Investment Group was one of the company’s largest stakeholders.

Citigroup appreciated the recent quarterly earnings of Live Nation Entertainment, Inc. (NYSE:LYV) and gave a positive outlook on its performance this year. In May, the firm raised its price target on the stock to $89 with a Buy rating on the shares.

You can also take a look at 10 Oil Stocks Billionaires Are Loading Up On and 12 Best Land and Timber Stocks To Buy

Follow Insider Monkey on Twitter