Jim Cramer Discusses 17 Stocks And Blasts Zero Day Options

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

Number of Hedge Fund Holders In Q3 2024: 61

Novo Nordisk A/S (NYSE:NVO) is a Dutch pharmaceutical company with a key presence in the weight loss market through Wegovy which has enabled it to grow revenue by 31% between 2022 and 2023. However, Novo Nordisk A/S (NYSE:NVO) has struggled to compete with Eli Lilly’s products, and it has had to lower Wegovy prices to keep volumes up. Another potential headwind for the firm could be the US government deciding to include weight loss drugs under Medicare. Cramer commented on a recent trial of Novo Nordisk A/S (NYSE:NVO)’s weight loss drug which missed investor expectations of reducing weight by 25%:

“No, I thought it was going to do 25, it was obviously, uh, something that got too hyped. Lilly is better, and that’s why Lilly’s stock is up, you know at one point Lilly’s stock was up by 80. That seemed to be aggressive, but Lilly’s got the better data and so therefore this is one of those where whoever loses the most wins.

“I mean Novo was this, this was a lot more than we thought that you know what they have it and they can equal or, or exceed Lilly. And they can’t.

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