11 Best Extremely Profitable Stocks to Buy According to Analysts

2. Novo Nordisk A/S (NYSE:NVO)

TTM Net Profit Margin: 34.78%

Number of Hedge Fund Holders: 64

Analyst Upside Potential: 58.76%

Novo Nordisk A/S (NYSE:NVO) is a leading global healthcare company that specializes in diabetes care and other chronic diseases such as obesity, hemophilia, and growth hormone disorders. It operates through two main business segments including Diabetes and Obesity Care and Biopharmaceuticals.

On March 11, Evan Seigerman from BMO Capital maintained a Buy rating on the stock with a price target of $105. The analyst noted that the company’s existing products have shown robust performance, reinforcing confidence in their current market position. The company’s deep knowledge in this sector positions it well to handle competitive pressures and capitalize on new opportunities. Notably, Novo Nordisk A/S (NYSE:NVO) is working on advanced treatments like CagriSema, which aim to improve existing therapies.

In addition, Novo Nordisk A/S (NYSE:NVO) achieved remarkable financial performance in 2024, driven by strong demand for its diabetes and obesity treatments, particularly semaglutide-based drugs like Wegovy and Ozempic. It grew its revenue by 25% to DKK 290.4 billion ($40.5 billion), with Q4 revenue increasing by 30% year-over-year. Semaglutide-based drugs contributed significantly, generating DKK 186 billion ($24.9 billion), which accounted for 60% of total sales. It is one of the best extremely profitable stocks to buy according to analysts.

Burke Wealth Management stated the following regarding Novo Nordisk A/S (NYSE:NVO) in its Q4 2024 investor letter:

“Novo Nordisk A/S (NYSE:NVO): Shares of Novo-Nordisk were under consistent pressure during the fourth quarter, first following the nomination of Robert F. Kennedy Jr. to head the Department of Health and Human Services and second following the release of Phase III results of its Cagri-Sema obesity drug. Regarding RFK’s nomination, we are going to wait until he is confirmed and sets an agenda before we leap to the conclusion that he is going to somehow eliminate one of the most popular and important drug classes (GLP-1s) in the country…