20 Most Profitable Stocks of the Last 20 Years

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

20-Year Annualized Return: 24.15% 

Novo Nordisk A/S (NYSE:NVO) is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark. The company is a global leader in the diabetes market and a significant player in hemophilia care, growth hormone therapy, and hormone replacement therapy.

Novo’s operating profit increased by 27% in Danish kroner and 30% at constant exchange rates (CER) to DKK 31.8 billion in Q1 2024. Their sales in North America surged by 34% in the Danish kroner, which was bolstered by adjustments in gross-to-net sales from previous years. Within Diabetes and Obesity care, sales rose by 25% in Danish kroner to DKK 61.0 billion (27% at CER), driven by a 30% growth in GLP-1 diabetes treatments and a significant 41% increase in Obesity care.

Novo Nordisk achieved notable milestones with the successful completion of the FLOW kidney outcomes trial for semaglutide 1.0 mg, US approval of Wegovy for cardiovascular risk reduction in overweight or obese individuals with cardiovascular disease, and EU recommendation for Awiqli, a once-weekly insulin icodec.

In Q1 2024, there were 60 hedge fund holders in the company, up from 58 in the previous quarter. Fisher Asset Management held the largest position in the company with 13,724,718 shares worth $1,762,253,959.

The average analyst rating for Novo Nordisk A/S (NYSE:NVO) stock is “Strong Buy”. Analysts have provided 12-month price forecasts with an average target of $140.5, ranging from a low estimate of $115 to a high estimate of $163. This implies an average upside potential of approximately 1.17% from the current stock price of $138.87.