38 Mid Cap Stocks Just Made New 52-Week Highs
A new list of market leaders is heavy on financials, but the sharpest gains and valuations are found elsewhere.
Financials are showing concentrated strength, with Regional Banks (7 names) leading today’s list of 38 Mid Cap stocks at 52-week highs. The largest company here is Revolution Medicines (RVMD), with a market value of about $38.3 billion. But the list shows very different paths to a new high, raising a key question: which businesses have the fundamentals to earn these stronger prices? Below are the names hitting new peaks.
The 10 Largest, By Market Cap
The table below shows the 10 largest of the 38 names, sorted by market capitalization, with returns over four windows:
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- 36 S&P 500 Stocks Hit 52-Week Highs On Tuesday
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- The 52-Week-Low List: 3 S&P 500 Names On Tuesday
- S&P 500 Movers | Winners: PLTR, ZBRA, IT | Losers: APTV, NRG, CMG
| Tickers | Market Cap |
1D % Chg |
1W % Chg |
1M % Chg |
1Y % Chg |
|---|---|---|---|---|---|
| RVMD | $38.3 Bil | 6.0% | 5.2% | 1.8% | 428.1% |
| EXPE | $38.0 Bil | 4.7% | 5.5% | 17.0% | 76.6% |
| NTAP | $37.9 Bil | 4.1% | 9.1% | 16.8% | 91.7% |
| RJF | $35.0 Bil | 0.5% | 0.8% | 7.3% | 11.0% |
| WSM | $29.5 Bil | 3.8% | 5.3% | 11.6% | 34.5% |
| FCNCA | $26.9 Bil | 1.5% | 2.4% | 6.4% | 18.2% |
| CPAY | $26.8 Bil | 2.8% | 3.2% | 11.2% | 25.3% |
| PFG | $25.0 Bil | 0.1% | 1.0% | 2.4% | 58.2% |
| SN | $23.8 Bil | 4.7% | 5.2% | 12.9% | 49.7% |
| ARXS | $23.5 Bil | 8.0% | 31.8% | 24.4% | n/a |
Does the business performance justify the price?
Consider two of the largest names, Expedia (EXPE) and NetApp (NTAP), which have gained 17.0% and 16.8% over the last month, respectively. Expedia trades at 25.5 times trailing earnings on revenue that grew 10.0% over the last twelve months, with an operating margin of 16.1%.
NetApp shows a different profile. Its revenue grew a slower 5.4%, but its operating margin is a wider 24.5%. The market is paying a higher multiple for that profitability, with the stock trading at 29.7 times trailing earnings. These figures show that a new high can mean very different things for the underlying business.
So is a new high a signal to buy?
A 52-week high is a measure of price strength, and that strength often persists. It is not, however, a verdict on a company’s quality or future prospects. The disciplined approach is to treat this list as a screen for what the market is rewarding right now.
The real work begins after reading the names: checking whether the business performance, from revenue growth to margins, truly supports the stock’s new level.
A new high tells you what the market already believes. The harder question is which of these runs management itself is underwriting. Our Guidance Momentum screen tracks exactly that: stocks where the company raised its own forward numbers.
New Highs Fade. Discipline Compounds
Some of the names on this list will keep setting highs for years, and some are at the top of their run right now. Sorting one from the other, name by name, every day, is the work most investors never keep up with.
That sorting is what the Trefis High Quality (HQ) Portfolio does systematically: about 30 quality businesses screened for the fundamentals that sustain a run, held with rules instead of excitement. It has a track record of outpacing a benchmark that combines the three major indices – the S&P 500, S&P Mid-cap, and Russell 2000. Use the high list for ideas; use the portfolio for the compounding.