10 Best Foreign Stocks To Buy Now

5. Novo Nordisk A/S (NYSE:NVO)

Number of Hedge Fund Holders In Q2 2024: 67

Novo Nordisk A/S (NYSE:NVO) is a Danish pharmaceutical company that is one of the largest of its kind in the world. Yet, it is a highly specialized firm that offers products primarily for diabetes, weight loss, and rare diseases. This specialization coupled with Novo Nordisk A/S (NYSE:NVO)’s massive financial resources as highlighted by its cash and equivalents of $62.6 billion means that the firm can establish key footholds in some of the fastest growing healthcare markets. The stock is up by 44% over the past year primarily on the back of Novo Nordisk A/S (NYSE:NVO)’s Wegovy weight loss drug. Additionally, since it has considerable experience with diabetes drugs, that are precursors to weight loss treatments, the firm has been able to keep up with researching new treatments. Novo Nordisk A/S (NYSE:NVO) currently has CagriSema and amycretin in the pipeline as new weight loss treatments, and it could see additional tailwinds if CagriSema’s phase three results yield favorable results. It is also looking to use its weight loss formula semaglutide to treat Alzheimer’s.

Polen Capital mentioned Novo Nordisk A/S (NYSE:NVO) in its Q4 2023 investor letter. Here is what the firm said:

“As we discussed in last quarter’s commentary, Novo Nordisk is a newer addition to the strategy. Over the fourth quarter, we continued to build the position to an average weight. As a reminder, Novo Nordisk is a global pharmaceutical company based in Denmark and has long been the leader in developing insulin for diabetes patients. In recent years, the company’s innovation into GLP-1 drugs has been shown not only to help diabetics control blood sugar levels but also to have significant efficacy in weight loss. Obesity has become a global epidemic, creating materially negative knock-on effects for humans that range from an increase in cardiovascular events and, thus, higher mortality to a lower general quality of life. We believe that, over time, payors will recognize the value of these obesity treatments to both patients and the overall healthcare system.”