NVO - Where Will Novo Nordisk Be in 10 Years?
2024-05-25 09:15:00 ET
Novo Nordisk (NYSE: NVO) has been a fantastic, market-beating stock to own for the past decade. Its 10-year return is an incredible 527%, which dwarfs the S&P 500 's 182% gain during the same period. But it wasn't until 2022 that the stock really took off. Up until then, its returns were more comparable to that of the broader market.
Now that Novo Nordisk has become one of the largest healthcare stocks in the world, investors may be worried that the level of upside left for the stock may diminish. Can this stock still be a good buy for the next 10 years, or should growth investors look elsewhere?
The reason for Novo Nordisk's recent success can be traced back to one product: Ozempic. Even though there are other weight-loss drugs out there today, Ozempic has effectively become synonymous with weight-loss products, even though, ironically, it is approved for diabetes , not weight loss. Patients have simply been taking Ozempic for weight loss because it has helped them lose weight and achieve impressive results, eventually turning it into a popular trend on social media.
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Where Will Novo Nordisk Be in 10 Years?