Regardless of age or experience, all investors share the common goal of maximizing their investments in the stock market with confidence. One helpful tool for finding great stocks is the Zacks Style Scores, which rate stocks based on value, growth, and momentum characteristics.
For growth-oriented investors, like those interested in Novo Nordisk (NVO), the Growth Style Score is particularly important. This score analyzes factors like projected and historical earnings, sales, and cash flow to identify stocks with strong growth potential over time.
Novo Nordisk, a global healthcare company based in Bagsværd, Denmark, is a leader in the diabetes market and also operates in areas such as hemophilia care, growth hormone therapy, hormone replacement therapy, and obesity. With a Zacks Rank #3 (Hold), a Growth Style Score of A, and a VGM Score of B, NVO is well-positioned for growth. Earnings and sales are expected to increase significantly year-over-year, with two analysts revising their estimates upwards for fiscal 2024.
Furthermore, Novo Nordisk boasts strong cash flow growth and is projected to see significant expansion in 2024. With impressive growth fundamentals, a solid Zacks Rank, and strong Style Scores, NVO is a stock worth considering for investors’ portfolios.
For more investment recommendations from Zacks Investment Research, consider downloading their report on the 7 Best Stocks for the Next 30 Days.