ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” fourth 2022 investor letter. A copy of the same can be downloaded here. The strategy underperformed its benchmark, the Russell 3000 Index, in the fourth quarter. In the quarter, the strategy gained in eight of the ten sectors it invested in on an absolute basis. Health care, financials, and IT sectors were the leading contributors while communication services and utility sectors detracted from the performance. Stock selection was favorable on a relative basis while sector allocation detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Sustainability Leaders Strategy highlighted stocks like Novo Nordisk A/S (NYSE:NVO) in the Q4 2022 investor letter. Headquartered in Bagsvaerd, Denmark, Novo Nordisk A/S (NYSE:NVO) is a healthcare company. On March 6, 2023, Novo Nordisk A/S (NYSE:NVO) stock closed at $144.76 per share. One-month return of Novo Nordisk A/S (NYSE:NVO) was 3.70%, and its shares gained 41.49% of their value over the last 52 weeks. Novo Nordisk A/S (NYSE:NVO) has a market capitalization of $325.879 billion.
ClearBridge Sustainability Leaders Strategy made the following comment about Novo Nordisk A/S (NYSE:NVO) in its Q4 2022 investor letter:
“Improving health care outcomes continues to be a major theme in the portfolio. Novo Nordisk A/S (NYSE:NVO), a new health care position, is the leading provider of diabetes-care products in the world, with almost 50% market share by volume of the global insulin market. The company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments and oral antidiabetic agents. Novo also has a biopharmaceutical segment (constituting roughly 15% of revenue) that specializes in protein therapies for hemophilia and other disorders. Novo has one of the longest histories in the sector of integrating ESG principles into its strategy and compensation. It invests heavily to address unmet needs in diabetes and obesity, delivering breakthrough medications in both areas, and is singlehandedly developing the commercial market for Rx treatment of obesity. The company’s access programs in both developed and lower-income countries are among the most generous and mature, including numerical targets and integration with compensation.”
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Novo Nordisk A/S (NYSE:NVO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Novo Nordisk A/S (NYSE:NVO) at the end of the fourth quarter which was 40 in the previous quarter.
We discussed Novo Nordisk A/S (NYSE:NVO) in another article and shared high growth pharma stocks that are profitable. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
