Us Healthcare Stock To Consider

last updated on

Us Healthcare Stock To Consider

Us Healthcare Stock That Can Double Your Money

Everyone wants to enter into a stock that's just primed to deliver insane returns. One such stock is Novo Nordisk (NVO), which is down by almost 52%.

Being down by 52% can automatically raise the alarms for many investors. But at the same time, it also provides a great opportunity to buy the stock at a lower rate. Especially if the business is strong and the growth potential is there, any stock can recover from 50% lows.

Novo Nordisk Down By 52%

Over the last 12 months, Novo Nordisk (NVO) has been down by almost 52%. But some analysts believe that Novo Nordisk (NVO) can double the money of investors in the next 6 years.

What is Novo Nordisk (NVO)? They focus on developing treatments for diabetes and have established themselves as a leader over the years. As of now, the firm controls 33.3% of the diabetes drugs market.

NVO didn't establish this dominance overnight or by accident. Over the years, they have hired the top talent and spent big money on R&D to produce groundbreaking drugs.

What makes Novo Nordisk a good option is that they are operating in a fast-growing area. Also, they have a lot of products in the pipeline, which will improve the revenues.

If we talk about numbers, the net sales of Novo Nordisk have jumped 19% during Q1 on a y/y basis. In addition, the net profit of Novo Nordisk is nearly $4.5 billion with a 14% y/y increase.

Just these numbers alone are enough to warrant an entry into the Novo Nordisk stock, as it is trading at a discount.

In addition, the forward P/E of Novo Nordisk is also around 16.9, which is very reasonable. To put things into perspective, the P/E ratio of the S&P 500 is 22.3, while the healthcare industry's is around 16.2.

So based on all the data, it makes total sense to consider buying the Novo Nordisk stock. A lot of analysts believe that the stock price of Novo Nordisk will double in the next 6 years.

Trending Stories