Don't Worry About Novo Nordisk's Premium Stock Price. It's Still a Buy.
If you aren't familiar with Novo Nordisk (NYSE: NVO) by name, you'll probably recognize some of its flagship medications. The Danish pharmaceutical giant is the developer of diabetes and obesity treatments Ozempic, Rybelsus, and Wegovy.
The smashing success of these medications has sent Novo Nordisk stock soaring 72% over the past year. In fact, the company is the 14th-most-valuable business in the world, as measured by market capitalization. That's larger than Walmart, , and ExxonMobil, just to name a few.
After reporting sizzling fourth-quarter earnings last week, Novo Nordisk is heading even higher. With such a lofty valuation, some investors may be tempted to take some gains. Let's break down how the company is performing and why doubling down and scooping up shares may be a more prudent strategy in the long term.
Source Fool.com
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