5 Undervalued Mid Cap Stocks To Buy

In this piece, we will take a look at the five undervalued mid cap stocks to buy. If you want to learn more about mid cap investing and the stock market then head on over to 11 Undervalued Mid Cap Stocks To Buy.

5. IQVIA Holdings Inc. (NYSE:IQV)

Share Price Upside: 25%

IQVIA Holdings Inc. (NYSE:IQV) is a healthcare technology firm that provides hospitals and drug makers with analytics, performance management, and other services. The firm’s shares are rated Strong Buy on average and analysts have set an average share price target of $248.

During Q2 2023, 64 out of the 910 hedge funds part of Insider Monkey’s database were IQVIA Holdings Inc. (NYSE:IQV)’s shareholders. Out of these, the largest shareholder is Thomas Steyer’s Farallon Capital since it owns 3.8 million shares that are worth $869 million.

4. Realty Income Corporation (NYSE:O)

Share Price Upside: 27%

Realty Income Corporation (NYSE:O) is a real estate investment trust that is one of the largest of its kind since it has more than ten thousand properties in its portfolios. The firm expanded its European portfolio in Europe by striking net lease deals for assets to boost shareholder returns.

Insider Monkey dug through 910 hedge fund portfolios for this year’s June quarter and found that 24 had bought the firm’s shares. Realty Income Corporation (NYSE:O)’s biggest investor is Paul Marshall and Ian Wace’s Marshall Wace LLP courtesy of its $58.5 million stake.

3. ON Semiconductor Corporation (NASDAQ:ON)

Share Price Upside: 32%

ON Semiconductor Corporation (NASDAQ:ON) is an American semiconductor manufacturer that sells sensors, power management chips, and other products. Even as the consumer arm of the chip sector struggles to resolve a historic glut, the firm announced new products in October 2023 that are aimed toward industrial use by improving security camera performance.

As of June 2023, 55 out of the 910 hedge funds tracked by Insider Monkey had invested in ON Semiconductor Corporation (NASDAQ:ON). D. E. Shaw’s D E Shaw is the largest shareholder among these as it owns $204 million worth of shares.

2. Corteva, Inc. (NYSE:CTVA)

Share Price Upside: 39%

Corteva, Inc. (NYSE:CTVA) is an agricultural raw materials company that sells seeds, insecticides, and weed killers. The firm has grown its EPS in three of its four latest quarters and beat analyst estimates for the metric in all of them. The shares are rated Buy on average and the average share price target is $69.

During 2023’s second quarter, 46 among the 910 hedge funds surveyed by Insider Monkey had bought a stake in the agricultural company. Corteva, Inc. (NYSE:CTVA)’s biggest hedge fund investor in our database is Ken Griffin’s Citadel Investment Group as it owns $323 million worth of shares.

1. DexCom, Inc. (NASDAQ:DXCM)

Share Price Upside: 73%

DexCom, Inc. (NASDAQ:DXCM) provides healthcare products for people suffering from diabetes. It marks a strong finish to our list of the best midcap value stocks, as not only does the stock have a massive 73% upside based on the average share price target, but analysts have also rated it as Strong Buy on average.

58 out of the 910 hedge funds part of Insider Monkey’s Q2 2023 database had invested in DexCom, Inc. (NASDAQ:DXCM). Israel Englander’s Millennium Management is the largest shareholder among these as it owns a $244 million stake that comes courtesy of 1.9 million shares.

Disclosure: None. You can also take a look at 16 Best Growth Stocks To Buy According To Hedge Funds and 12 Best Clean Laundry Detergent Brands.

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