Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.

Now, let's break down why adding this one exceptional stock, highlighted below, to your portfolio could be a recipe for success.

Why You Should Pay Attention to Novo Nordisk (NVO)

Bagsværd, Denmark-based Novo Nordisk is a global healthcare company and a leader in the worldwide diabetes market with a full portfolio of glucagon-like peptide 1 (GLP-1) receptor agonists, modern insulins and human insulins. The company is also a key player in hemophilia care, growth hormone therapy, hormone replacement therapy and obesity.

On March 7, 2023, NVO was added to the Zacks Focus List at $72.38 per share. Shares have increased 42.91% to $103.44 since then.

For fiscal 2024, two analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.17 to $3.24. NVO boasts an average earnings surprise of 1.5%.

Additionally, Novo Nordisk's earnings are expected to grow 20% for the current fiscal year.

It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like NVO, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.

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Novo Nordisk A/S (NVO) : Free Stock Analysis Report

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