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Before You Buy Novo Nordisk (NVO) Stock, Read This

Alex Smith
·2 mins read

Amana Mutual Funds Trust recently released its Q1 2020 Investor Letter, a copy of which you can download here. The Amana Income Fund posted a return of -18.01% for the quarter, outperforming its benchmark, the S&P 500 Index which returned -19.60% in the same quarter. You should check out Amana Mutual Fund's top 5 stock picks for investors to buy right now, which could be the biggest winners of the stock market crash.

In the said letter, Amana Mutual Fund highlighted a few stocks and Novo Nordisk A/S (NYSE:NVO) is one of them. Novo Nordisk is a pharmaceutical company. Year-to-date, Novo Nordisk A/S (NYSE:NVO) stock gained 16% and on June 16th it had a closing price of $65.29. Here is what Amana Mutual Fund said:

"Novo Nordisk primarily serves the diabetes market and has enjoyed significant drug trial successes over the past few months."

30 Funniest Science Jokes, Puns, and Humor Quotes Ever
30 Funniest Science Jokes, Puns, and Humor Quotes Ever

In Q1 2020, the number of bullish hedge fund positions on Novo Nordisk A/S (NYSE:NVO) stock increased by about 4% from the previous quarter (see the chart here), so a number of other hedge fund managers seem to agree with NVO's growth potential. Our calculations showed that Novo Nordisk A/S (NYSE:NVO) isn't ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 185% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 109 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds' poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

Video: Top 5 Stocks Among Hedge Funds

At Insider Monkey we leave no stone unturned when looking for the next great investment idea. For example, 2020’s unprecedented market conditions provide us with the highest number of trading opportunities in a decade. So we are checking out stocks recommended/scorned by legendary Bill Miller. We interview hedge fund managers and ask them about their best ideas. If you want to find out the best healthcare stock to buy right now, you can watch our latest hedge fund manager interview here. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. Our best call in 2020 was shorting the market when the S&P 500 was trading at 3150 after realizing the coronavirus pandemic’s significance before most investors. You can subscribe to our free enewsletter below to receive our stories in your inbox:

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Disclosure: None. This article is originally published at Insider Monkey.