Polen Capital, an investment management firm, released its “Polen Global Growth” third quarter 2023 investor letter, a copy of which can be downloaded here. Polen Capital’s Global Growth Composite Portfolio, referred to as the “Portfolio,” experienced a decrease of -3.19% and -3.46% gross and net of fees, which closely tracked the performance of the MSCI ACWI, known as the “Index,” which declined by -3.40% over the quarter. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, Polen Global Growth mentioned Novo Nordisk A/S (NYSE:NVO) and explained its insights for the company. Novo Nordisk A/S (NYSE:NVO) is a Bagsværd, Denmark-based multinational pharmaceutical company with a $438.7 billion market capitalization. Novo Nordisk A/S (NYSE:NVO) delivered a 45.07% return since the beginning of the year, while its 12-month returns are up by 74.66%. The stock closed at $98.17 per share on November 3, 2023.
Here is what Polen Global Growth has to say about Novo Nordisk A/S (NYSE:NVO) in its Q3 2023 investor letter:
“Regarding Novo Nordisk, we’ve covered the company for a long time and owned it many years ago, ultimately selling because of payor pricing pressure on the insulin business. What has changed the investment case for us, though, is the company’s innovation into GLP-1 drugs, which not only help diabetics control bloodsugar levels but have also shown significant efficacy in weight loss. Novo Nordisk’s best-known GLP-1 drugs, Ozempic (for diabetes) and Wegovy (for obesity), are already blockbusters, frequently grabbing headlines in global news publications for their significant results. GLP-1 drugs account for nearly 70% of Novo Nordisk’s sales today. Obesity has become a global epidemic, creating materially negative knock-on effects for humans that range from an increase in cardiovascular events and, thus, lower mortality to a lower general quality of life. Our research shows that Novo Nordisk has the track record, management team, and expertise to develop this market. We believe that, over time, payors will recognize the value of these obesity treatments to both patients and the overall healthcare system.”
A lab technician in a biopharmaceutical laboratory, surrounded by technology and equipment necessary for advanced research.
Our calculations show that Novo Nordisk A/S (NYSE:NVO) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. Novo Nordisk A/S (NYSE:NVO) was in 43 hedge fund portfolios at the end of the second quarter of 2023, compared to 46 funds in the previous quarter. Novo Nordisk A/S (NYSE:NVO) delivered a 25.38% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
