5 Most Profitable Biotech Stocks To Invest In

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

Number of Q4 2023 Hedge Fund Shareholders: 58

Latest TTM Net Income: $12.25 billion

Novo Nordisk A/S (NYSE:NVO) is a global biotechnology giant headquartered in Bagsvaerd, Denmark. The firm made quite a bit of hype in March 2024, when its weight loss drug Wegovy propelled its market capitalization higher than Tesla’s. As if this weren’t enough, the month as the drug also received FDA clearance to treat heart problems.

Insider Monkey dug through 933 hedge funds for their December quarter of 2023 shareholdings and found that 58 had invested in Novo Nordisk A/S (NYSE:NVO). Ken Fisher’s Fisher Asset Management owned the biggest stake which was worth $1.4 billion.

Follow Novo Nordisk A S (NYSE:NVO)