Is Novo Nordisk the Best Healthcare Stock for You?
Novo Nordisk (NYSE: NVO), the Danish company behind popular diabetes drug Ozempic and anti-obesity medication Wegovy, has become one of the most valuable businesses in the world. Worth approximately $580 billion already, the company has achieved considerable gains for its shareholders. In five years, the stock has risen by 400%.
What's encouraging for investors is that there are still multiple growth catalysts that may push the stock's value up even higher in the. The growth story is by no means over for Novo Nordisk. Given its strong fundamentals, its highly valued assets in Ozempic and Wegovy, and more growth down the road, is this the best healthcare stock you can buy today?
What I really like about Novo Nordisk is that while other companies become overly diverse, its focus is on weight loss and diabetes. Those are two of the most important areas of healthcare. And there's some overlap, as you can see from Ozempic being used off-label for weight loss. A drug that's helpful in one area could help in another as well.
Source Fool.com
