Yahoo Finance Novo Nordisk (NVO) Boasts Earnings & Price Momentum: Should You Buy?
Kickstarting your investment journey can be both exciting and scary at the same time, and if you're new to investing, you may not know where to even begin. However, one thing is for certain -- stocks set to beat the market over the next 12 months serve as the perfect foundation for any kind of investor.
Let's now take a look at one standout stock that could be a perfect fit for your portfolio.
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 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.
On March 7, 2023, NVO was added to the Zacks Focus List at $72.38 per share. Shares have increased 73.06% to $125.26 since then.
For fiscal 2024, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0 to $3.32. NVO boasts an average earnings surprise of 1.9%.
Moreover, analysts are expecting Novo Nordisk's earnings to grow 23% for the current fiscal year.
It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like NVO, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.
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Novo Nordisk A/S (NVO) : Free Stock Analysis Report
