Stocks to invest in
Seeing as how the S&P 500 and the Dow Jones are near record highs, it’s not surprising that many stocks have recently hit 52-week highs as well. In this article we’ll take a closer look at five of them: ABIOMED, Inc. (NASDAQ:ABMD), CME Group Inc (NASDAQ:CME), Facebook Inc (NASDAQ:FB), Exelixis, Inc. (NASDAQ:EXEL), and Flextronics International Ltd. (NASDAQ:FLEX), and use SEC filings to see what the top hedge funds think of each stock.
We believe that imitating hedge funds and other large institutional investors can be helpful in identifying stocks capable of outperforming the broader market. Through extensive research that covered portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see the details here).
ABIOMED Gaining Ahead of Earnings Release
ABIOMED, Inc. (NASDAQ:ABMD) shares hit a 52-week high of $119.90 on Wednesday as traders look forward to the company’s upcoming earnings release on July 28. The company has beaten analysts’ EPS estimates soundly in each of the last two quarters, and expectations for the current quarter aren’t too high, with the consensus analyst EPS estimate at $0.23 per share. Shares of the stock are up by 31% year-to-date. Jim Simons‘ Renaissance Technologies more than doubled its stake in ABIOMED, Inc. (NASDAQ:ABMD) to 287,100 shares during the first quarter.
Trade (NASDAQ:ABMD) Now!
CME Group Profiting From Bull Market in More Ways Than One
Given the strong performance of the Dow Jones, S&P 500, and other equities, it isn’t surprising that CME Group Inc (NASDAQ:CME) made its 52-week high of $102.63 on Wednesday. Bull markets and increased volatility in commodities generally mean more trading volume, which leads to higher profits for CME Group. In addition to rallying by 13.4% year-to-date, the CME Group also pays a 2.36% dividend yield at current share prices. Of the 766 active funds that we track, 45 funds owned $977.48 million in CME Group Inc (NASDAQ:CME) positions on March 31, which accounted for 3.00% of the float.
Trade (NASDAQ:CME) Now!
Trade (NASDAQ:CME) Now!
On the next page we;’ll take a closer look at how Facebook, Exelixis, and Flextronics International came to reach their 52-week highs.
– Stocks to invest in