In this article, we will discuss the top 5 stocks to buy according to Thomas Steyer’s Farallon Capital. If you want to see our comprehensive analysis of Steyer’s history, investment philosophy, and hedge fund performance, go directly to the Top 10 Stocks To Buy According To Thomas Steyer’s Farallon Capital.
5. Boston Scientific Corporation (NYSE:BSX)
Farallon Capital’s Stake Value: $543.7 million
Percentage of Farallon Capital’s 13F Portfolio: 2.41%
Number of Hedge Fund Holders: 51
Boston Scientific Corporation (NYSE:BSX) is a Massachusetts-based manufacturing company that designs, produces and sells devices for the medical industry.
On October 6, Piper Sandler analyst Matt O’Brien maintained an Overweight rating on Boston Scientific Corporation (NYSE:BSX) with a $175 price target on its shares.
By the end of the second quarter of this year, Thomas Steyer’s Farallon Capital held 12.7 million shares of Boston Scientific Corporation (NYSE:BSX) with the stake equaling $543.7 million and representing 2.41% of the investment firm’s portfolio. Of the 873 elite funds tracked by Insider Monkey, 51 held stakes in the company in the second quarter of 2021, up from 44 hedge funds in the preceding quarter.
Artisan Partners, in its second-quarter investor letter mentioned Boston Scientific Corporation (NYSE:BSX). Here is what the fund said:
“Among our top contributors (includes) Boston Scientific. Shares of Boston Scientific were volatile throughout most of 2020 as the pandemic drove significant drops in elective medical procedures, though our longer-term constructive view and belief elective medical procedures would bounce back post pandemic prompted us to add to our position. We have been rewarded with shares rebounding this year alongside a recovery in elective medical procedures. Longer-term, we believe the company’s investments in higher growth categories will drive revenue growth to the higher end of its peer group with rising margins.”
4. Aon Plc (NYSE:AON)
Farallon Capital’s Stake Value: $630.95 million
Percentage of Farallon Capital’s 13F Portfolio: 2.8%
Number of Hedge Fund Holders: 68
Aon Plc (NYSE:AON) operates as a global professional services firm which provides a range of financial risk-mitigation and insurance products.
After the second quarter of 2021, Thomas Steyer’s hedge fund owns 2.64 million shares worth $630.9 million in Aon Plc (NYSE:AON), representing 2.8% of the fund’s overall holdings value.
On September 2, MKM Partners analyst Harry Fong raised the price target on Aon Plc (NYSE:AON) to $350 from $300, and kept a Buy rating on the shares of the company.
As of Q2 2021, 68 hedge funds out of 873 tracked by Insider Monkey held stakes in Aon Plc (NYSE: AON) worth $8.12 billion, in comparison to $7.76 billion worth of stakes in the company held by 72 hedge funds in the previous quarter.
Polen Capital, an investment management firm, published its insights on Aon Plc (NYSE: AON) in its investor letter for Q2 2021. Here’s what they had to say:
“In the case of Aon, we purchased a small initial position in June. Within days of our initial purchase, the U.S. Department of Justice challenged Aon’s pending merger with Willis Towers Watson, and the stock fell as a result. Outside this event, Aon’s business continues to be well-positioned and operating exceptionally well, in our opinion. We detail our investment case for the business in the Portfolio Activity section. Importantly, while we remain confident that Aon can find a path forward with the U.S. Department of Justice, the consummation of the merger is not required for our investment case.”
3. Thermo Fisher Scientific Inc. (NYSE:TMO)
Farallon Capital’s Stake Value: $678 million
Percentage of Farallon Capital’s 13F Portfolio: 3.01%
Number of Hedge Fund Holders: 87
Thermo Fisher Scientific Inc. (NYSE:TMO) ranks third on the list of the top 10 stocks to buy according to Thomas Steyer’s Farallon Capital. The Massachusetts-based company is a provider of scientific instruments, reagents and consumables, and software services.
As of the end of the second quarter, 87 hedge funds tracked by Insider Monkey reported owning stakes in Thermo Fisher Scientific Inc. (NYSE:TMO). The total worth of these stakes is $7.39 billion.
On September 23, Goldman Sachs analyst Matthew Sykes upgraded Thermo Fisher Scientific Inc. (NYSE:TMO) stock to Conviction Buy from Buy, raising the price target to $690 from $600.
In its Q2 2021 investor letter, ClearBridge Investments mentioned Thermo Fisher Scientific Inc. (NYSE:TMO). Here is what they said:
“Two additional names in the health care sector in the quarter, partially funded with a sale, made strong contributions and helped push our relative exposure to the sector from underweight to overweight. We added Thermo Fisher Scientific to increase our exposure to health care tools, which has been an attractive and core segment within health care. Thermo Fisher’s instruments are used to monitor and protect air, water, and food quality, and the company has strong long-term fundamentals, a top-tier management team and a diversified business.”
2. IQVIA Holdings Inc. (NYSE:IQV)
Farallon Capital’s Stake Value: $694.7 million
Percentage of Farallon Capital’s 13F Portfolio: 3.08%
Number of Hedge Fund Holders: 69
IQVIA Holdings Inc. (NYSE:IQV) is a multinational company based in North Carolina that specializes in health information technology and clinical research.
On September 10, Argus analyst Jasper Hellweg raised his price target on IQVIA Holdings Inc. (NYSE:IQV) to $290 from $260 and maintained a “Buy” rating on the shares.
According to the recent 13F Filings, Farallon Capital Management holds over 2.86 million shares in IQVIA Holdings Inc. (NYSE:IQV), worth $694.6 million. This represents 3.08% of the fund’s portfolio value. Of the 873 hedge funds tracked by Insider Monkey, 69 held stakes in Holdings Inc. (NYSE:IQV) in the second quarter of 2021, up from 62 funds a quarter earlier.
1. Willis Towers Watson Public Limited Company (NASDAQ:WLTW)
Farallon Capital’s Stake Value: $799.2 million
Percentage of Farallon Capital’s 13F Portfolio: 3.55%
Number of Hedge Fund Holders: 70
Willis Towers Watson Public Limited Company (NASDAQ:WLTW) is a leading British multinational risk management, insurance brokerage and advisory company.
As of Q2 2021 Thomas Steyer’s Farallon Capital Management holds over 3.47 million shares of Willis Towers Watson Public Limited Company (NASDAQ:WLTW), amounting to more than $799.2 million in worth and representing 3.55% of the fund’s portfolio.
On September 10, MKM Partners analyst Harry Fong raised his price target on Willis Towers Watson Public Limited Company (NASDAQ:WLTW) to $285 from $250, and kept a Buy rating on the shares of the company.
You can also take a peek at 10 Best Safe Dividend Stocks According to Billionaire Dan Loeb and 10 Best Robinhood Stocks Under $20.
