5 Most Profitable Biotech Stocks To Invest In

2. Novartis AG (NYSE:NVS)

Number of Q4 2023 Hedge Fund Shareholders: 28

Latest TTM Net Income: $14.8 billion

Novartis AG (NYSE:NVS) is a Swiss healthcare giant headquartered in Basel, Switzerland. Like Thermo Fisher, it is a backend biotechnology stock, and its presence in the industry enables biotech companies to avail of contract manufacturing services. The shares are rated Buy on average, and the average analyst share price target is $113.

As of December 2023 end, 28 out of the 933 hedge funds tracked by Insider Monkey had bought and owned the firm’s shares. Out of these, the largest Novartis AG (NYSE:NVS) shareholder was Jim Simons’ Renaissance Technologies due to its $286 million investment.

Follow Novartis A G (NYSE:NVS)