Advertisement
Singapore markets open in 1 hour 51 minutes

  • Straits Times Index

    3,330.09
    +11.64 (+0.35%)
     

  • S&P 500

    5,306.04
    +1.32 (+0.02%)
     

  • Dow

    38,852.86
    -216.73 (-0.55%)
     

  • Nasdaq

    17,019.88
    +99.08 (+0.59%)
     

  • Bitcoin USD

    68,451.06
    -1,012.39 (-1.46%)
     

  • CMC Crypto 200

    1,485.13
    -11.33 (-0.76%)
     

  • FTSE 100

    8,254.18
    -63.41 (-0.76%)
     

  • Gold

    2,359.60
    +3.10 (+0.13%)
     

  • Crude Oil

    80.26
    +0.43 (+0.54%)
     

  • 10-Yr Bond

    4.5420
    +0.0750 (+1.68%)
     

  • Nikkei

    38,855.37
    -44.63 (-0.11%)
     

  • Hang Seng

    18,821.16
    -6.19 (-0.03%)
     

  • FTSE Bursa Malaysia

    1,615.82
    -2.45 (-0.15%)
     

  • Jakarta Composite Index

    7,253.63
    -7,176.42 (-49.73%)
     

  • PSE Index

    6,501.34
    -70.26 (-1.07%)
     

Here's Why Novo Nordisk (NVO) is a Strong Growth Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

ADVERTISEMENT

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.

NVO sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of A, and has a VGM Score of B. Earnings and sales are forecasted to increase 24.4% and 25.9% year-over-year, respectively.

Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0 to $3.36 per share. NVO boasts an average earnings surprise of 3.8%.

Novo Nordisk is also cash rich. The company has generated cash flow growth of 15%, and is expected to report cash flow expansion of 51.7% in 2024.

NVO should be on investors' short lists because of its impressive growth fundamentals, a good Zacks Rank, and strong Growth and VGM Style Scores.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Novo Nordisk A/S (NVO) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research