Yahoo Finance Why Novo Nordisk (NVO) is a Top Stock for the Long-Term
If you're a beginner investor, the idea of creating a portfolio from the ground up can feel like an impossible goal to achieve. That's why you should start by looking at stocks that are set to beat the market over the next 12 months, a strategy that's been proven to generate strong returns.
Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.
Why You Should Pay Attention to Novo Nordisk (NVO)
Bagsværd, Denmark-based Novo Nordisk is a global healthcare company and a leader in the worldwide diabetes market with a full portfolio of glucagon-like peptide 1 (GLP-1) receptor agonists, modern insulins and human insulins. The company is also a key player in hemophilia care, growth hormone therapy, hormone replacement therapy and obesity.
Since being added to the Zacks Focus List on March 7, 2023 at $72.38 per share, shares of NVO have increased 96.57% to $142.28.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.09 to $3.41. NVO boasts an average earnings surprise of 3.8%.
Moreover, analysts are expecting Novo Nordisk's earnings to grow 26.3% for the current fiscal year.
Since stock prices respond to earnings estimate revisions, it can be very profitable to buy stocks with an increased earnings outlook. By buying a Focus List stock like NVO, then, you're likely getting into a company whose future earnings estimates will be raised, potentially leading to price momentum.
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Novo Nordisk A/S (NVO) : Free Stock Analysis Report
