12 Best ADR Stocks to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 64

Novo Nordisk A/S (NYSE:NVO) is a Denmark-based global healthcare company specializing in the development, manufacturing, and marketing of pharmaceutical products for chronic diseases. Its primary focus areas are diabetes care, obesity management, and rare diseases such as hemophilia and growth disorders. The company is a global leader in insulin and GLP-1 therapies, with widely used products like Ozempic, Wegovy, and NovoRapid. It is among the best ADR stocks to invest in.

Novo Nordisk A/S (NYSE:NVO) delivered strong financial performance in 2024 with sales growth of 26% and operating profit growth of 26% at constant exchange rates. The company expanded its patient reach to more than 45 million patients with diabetes and obesity treatments, representing an increase of almost 4 million patients compared to the previous year. The acquisition of three Catalent manufacturing sites was completed in December 2024, which will expand NVO’s global fill and finish footprint from 11 to 14 sites, enabling increased market supply beyond pre-existing CMO contracts from 2026. In R&D developments, the company had several significant obesity treatment readouts, including CagriSema, semaglutide 7.2 milligram, and amycretin.

Looking ahead to 2025, Novo Nordisk A/S (NYSE:NVO) expects sales growth between 16% and 24% at constant exchange rates, driven mainly by volume growth of GLP-1-based treatments for obesity and diabetes care. Operating profit is expected to grow between 19% and 27% at constant exchange rates, reflecting continued investments in research, development, and commercial activities. The company maintains broad formulary access for Wegovy in the US, covering 55 million people living with obesity, with more than 80% of patients paying less than $25 for a prescription.