Ken Fisher’s Top 5 Healthcare Stock Picks

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

Fisher Asset Management’s Stake Value: $1,233,268,000

Number of Hedge Fund Holders: 43

Novo Nordisk A/S (NYSE:NVO) is a Danish healthcare company engaged in the research, development, manufacture, and distribution of pharmaceutical products. On August 10, Novo Nordisk A/S (NYSE:NVO) announced a Q2 revenue of DKK 54.3 billion, along with a GAAP EPS of DKK 8.63. It is one of Ken Fisher’s top healthcare stocks. At the end of June 2023, Fisher Asset Management held 7.62 million shares of Novo Nordisk A/S (NYSE:NVO) worth $1.23 billion.

According to Insider Monkey’s second quarter database, 43 hedge funds were bullish on Novo Nordisk A/S (NYSE:NVO), compared to 46 hedge funds in the last quarter. 

Rowan Street Capital made the following comment about Novo Nordisk A/S (NYSE:NVO) in its second quarter 2023 investor letter:

“Our current portfolio is made up of just 10 companies — we are very focused! We described our ‘10-Player All-Star Team’ philosophy in our Q1 2018 Letter (we encourage you to review it). We have been building this portfolio since our founding in 2015. In total, over the past 8 years, we bought stock in 47 different companies (that’s ~6 per year), and obviously, for anyone who is good at arithmetic, we sold 37 of them (~4.6 per year). We are constantly trying to learn from every decision (good or bad) that we make. We went through every position that we’ve sold since 2015 and analyzed how we would have done had we held on to those positions. The top 3 performing positions would have been: Chipotle (CMG) +630%, Tractor Supply (TSCO) +315% and Novo Nordisk A/S (NYSE:NVO) +387%. Your managers are at fault here because we sold all of these (in 2017-18) for non-fundamental reasons. All of these continued to be great businesses and management has executed at very high levels. In all three cases, we made a decision to sell because we thought the stock price got way ahead of itself.”