Should I buy Novo Nordisk stock in 2025?

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At HelloSafe, our expert has been monitoring the performance of Novo Nordisk for over three years. Each month, hundreds of thousands of users in Canada rely on us to interpret market trends and highlight the best investment opportunities. Our analyses are provided strictly for informational purposes and do not constitute investment advice. In line with our ethical charter, we have never been, and will never be, compensated by Novo Nordisk.

What is Novo Nordisk?

How much is Novo Nordisk stock?

The price of Novo Nordisk stock is falling this week. As of now, NVO trades at $65.60 on the NYSE, showing a 1.28% decline over the past 24 hours and a 5.67% drop this week. The company’s market capitalization stands at $294.59 billion, with an average 3-month trading volume of 8.79 million shares. Novo Nordisk’s P/E ratio is 19.98, offering a dividend yield of 1.75%, and its stock beta of 0.57 indicates lower volatility than the broader market.

This period of correction may provide Canadian investors with a more attractive long-term entry point, though monitoring ongoing market shifts remains essential.

Our full analysis on Novo Nordisk stock

Having reviewed Novo Nordisk’s most recent financial disclosures and dissected the stock’s trajectory over the past three years, our analysis integrates in-depth fundamentals, market data, technical signals, and peer benchmarking via proprietary algorithms. This multifaceted approach reveals a nuanced picture where volatility intersects with robust underlying performance and innovation. So, why might Novo Nordisk stock once again become a strategic entry point into the global pharma and health-technology sector as we approach 2025?

Recent Performance and Market Context

The last year has been a period of pronounced volatility for Novo Nordisk. After reaching historic highs in 2023 driven by outsized demand for obesity and diabetes therapies, the stock experienced a significant retracement, depreciating 46.69% year-over-year and 22.32% over the last six months. Yet this correction comes on the heels of a multi-year rally, resetting valuations to more attractive levels and potentially presenting a timely opportunity for new entries.

Notably, trading volumes have surged (16.44 million shares daily vs. a 3-month average of 8.79 million), evidencing heightened institutional interest—often a precursor to inflection points. Despite recent price softness, the company’s operational momentum has remained strong. The more recent weekly pullback of -5.67% and a mild 1.28% daily drop do not overshadow the company’s 25% revenue growth in 2024 or the positive surprise in Q4 earnings, which came in well above analyst forecasts.

From a Canadian investment standpoint, Novo Nordisk offers diversified exposure to global healthcare—a defensive sector with secular growth potential. Demand for chronic disease treatments remains resilient despite macroeconomic uncertainties. With inflation cooling and more predictable rate environments, capital is rotating back into innovative, cash-generative leaders such as Novo Nordisk.

Recent developments reinforce the quality growth narrative: successful partnerships with telehealth giants Hims & Hers, Ro, and LifeMD are set to further expand Wegovy’s addressable market, while the FDA’s recent declaration of resolved supply constraints signals smoother operational execution going forward. In sum, despite the price correction, the fundamental and sectoral backdrops continue to favor the stock’s long-term appeal.

Technical Analysis

Technical signals presently reflect a market seeking equilibrium after a sharp descent. The stock is trading at $65.60 on the NYSE, just above critical support at $64.45 and $64.92—levels that have consistently attracted buying interest during previous pullbacks. Short-term momentum is neutralizing, with the 14-day RSI at 48.78, sitting in a balanced range.

While the MACD remains negative (-2.12), suggesting residual downward pressure, the price has climbed above the 20-day moving average ($63.08), indicating near-term strength. However, it remains under the 50-day ($72.97), 100-day ($80.78), and 200-day ($100.84) moving averages. The recent “death cross” (50-day MA below the 200-day MA) historically signals the end of bearish cycles in high-quality stocks, often preceding stabilization and even strong recovery moves when fundamentals are robust.

Immediate upside resistance is well defined at $66.93, $67.40, and $68.17. A sustained close above these marks, especially on elevated volume, could trigger a bullish reversal. Given these dynamics, the current zone represents a technically asymmetric background—where further downside appears limited by strong support, but risk/reward is skewed favorably on any fundamental or sentiment catalyst.

Fundamental Analysis

Fundamentally, Novo Nordisk’s core strengths remain intact and increasingly compelling at the current valuation. The company reported DKK 290.4 billion in 2024 revenue—up an impressive 25% year-over-year. Q4 net profit reached DKK 28.23 billion, exceeding consensus, highlighting both strong cost discipline and high demand for leading therapies. With a projected 16–24% top-line growth for 2025 at constant exchange rates, Novo Nordisk is expected to remain a sector outlier.

Profitability metrics are equally reassuring. At a trailing P/E of 19.98, the stock now trades at a discount not only to its five-year average but also to peers within the high-growth pharma cohort—a rare occurrence for such a dominant player with blue-chip credentials. The dividend yield at 1.75% adds an additional layer of appeal for Canadian investors focused on total return, without sacrificing growth.

Strategically, Novo Nordisk’s relentless investment in R&D delivers a formidable innovation pipeline. Its preeminent position in diabetes—anchored by blockbusters like Ozempic and Tresiba—secures predictable cash flows, while Wegovy’s meteoric uptake positions the company as a frontrunner in tackling the global obesity epidemic. Market share is expanding in both diabetes and obesity, aided by a global distribution network and powerful brand recognition.

In terms of structural durability, the company’s manufacturing scale, patent-protected portfolio, and robust balance sheet reinforce its capacity to weather emerging challenges and capitalize on new opportunities.

Volume and Liquidity

The recent surge in trading volume is a meaningful positive, implying institutional accumulation—and potentially, the early stages of trend reversal. Average daily volumes more than doubled in recent weeks, reflecting both increased scrutiny and growing confidence at these re-calibrated price levels. A liquid float supports dynamic price discovery, reducing slippage risk and accommodating both institutional and retail flows.

Such liquidity ensures that sharp upward movements can be credibly sustained should positive catalysts materialize—reinforcing the case for positioning ahead of key events.

Catalysts and Positive Outlook

Several imminent and strategic catalysts position Novo Nordisk for renewed upside:

• Q1 2025 Results (Scheduled May 7, 2025): Earnings will clarify the sustainability of explosive 2024 growth and offer forward-looking guidance amidst competitive pressures.
• Telehealth Expansion: Partnerships with Hims & Hers, Ro, and LifeMD unlock easier access to Wegovy, extending the company’s reach into digital healthcare—a fast-growing market with attractive margins.
• Supply Chain Resolution: The FDA’s resolution of supply chain constraints for Wegovy and Ozempic is critical. With production scaling to fully meet demand, topline bottlenecks may be removed, catalyzing renewed revenue and earnings momentum.
• Legal Victories: Success in litigation defends both IP integrity and patient safety, mitigating generic erosion risks and preserving pricing power.
• Regulatory and Competitive Backdrop: While Eli Lilly’s entrance into the weight-loss treatment space raises competition, Novo Nordisk’s entrenched market share, differentiated clinical data, and diversified pipeline offer substantial resilience.
• ESG and Brand Strength: The company’s commitment to sustainability enhances its appeal to institutional investors, particularly as ESG momentum strengthens in Canadian capital markets.

For Canadian investors seeking long-term exposure to global demographic megatrends, these catalysts harmonize at a time when expectations appear reset and upside scenarios are compelling.

Investment Strategies

Across different timeframes, the current setup presents several potential avenues for capitalizing on Novo Nordisk’s repositioning:

• Short-Term:
• Event-Driven Entry: The days leading up to the Q1 2025 earnings may offer tactical opportunities, as the market prices in positive surprises or upward guidance revisions. Entering near strong support levels ($64.45–$64.92) provides attractive risk/reward.
• Technical Reversal Play: Watch for a confirmed close above $67.40 with strong volume as a possible trigger for short-term positioning.
• Medium-Term:
• Catalyst Capture: Participation on the back of renewed supply adequacy (confirmed by the FDA) and telehealth channel expansion may drive a multi-week technical and sentiment rebound.
• Stabilization Zone Accumulation: The confluence of high volume, fundamental value, and oversold technicals suggests building a position as the stock consolidates above the 20-day MA.
• Long-Term:
• Buy-and-Hold Thesis: For investors seeking multi-year compounding, Novo Nordisk’s blockbuster product suite, robust pipeline, and shareholder-oriented capital allocation (dividends, potential for buybacks) argue for gradual accumulation at discounted valuation multiples.
• Portfolio Diversification: The stock offers non-cyclical global healthcare exposure—a smart hedge against domestic market volatility for Canadian investors seeking defensiveness with growth.

Is it the Right Time to Buy Novo Nordisk?

In sum, Novo Nordisk currently combines the agility of a health-tech innovator with the reliability of a mature, well-managed pharmaceutical major. Key strengths include surging topline growth (25% in 2024), a reset valuation (P/E 19.98), dividend participation, and a pipeline at the center of global megatrends—diabetes, obesity, and digital health. Recent partnerships, regulatory clarity, and supply chain stabilization further reinforce the bullish thesis.

Technically, the stock may be forming a durable base, with pronounced support absorbing selling pressure and volume patterns suggesting growing investor conviction. Fundamentally, growth prospects remain bright, and the coming Q1 2025 report stands as an invaluable inflection point.

For Canadian investors seeking world-class healthcare exposure at an attractive entry point, Novo Nordisk currently seems to represent an excellent opportunity. Its current fundamentals, evolving technical landscape, and upcoming catalysts all contribute to a highly compelling narrative. With its blend of market leadership, innovation, and improving operational outlook, Novo Nordisk may well be entering a new bullish phase in its corporate evolution—making it a name that deserves to be on the radar of serious long-term growth investors.

As the market anticipates the next chapter in Novo Nordisk’s growth story, the present environment appears to offer one of the most convincing setups for those looking to capture sustained value creation in the global healthcare sector.

How to buy Novo Nordisk stock in Canada?

Buying shares of Novo Nordisk online is a simple and secure process for Canadian investors when using a regulated and licensed broker. You can choose between two main methods: classic “spot” buying, where you directly own the shares, or trading via Contracts for Difference (CFDs), allowing you to speculate on price movements without owning the underlying asset. Both approaches can be accessed in just a few clicks from your computer or smartphone. The right choice depends on your investment goals and risk appetite—see our detailed broker comparison further down the page to help you get started.

Spot buying

Spot buying means purchasing actual Novo Nordisk shares, giving you part-ownership in the company and entitling you to dividends and voting rights. Most Canadian brokers charge a fixed commission per order, typically around $5 to $10 CAD. For example, if the current NYSE-listed price is $65.60 USD per share (about $90.00 CAD, depending on the exchange rate), a $1,000 CAD investment lets you buy roughly 11 Novo Nordisk shares, after accounting for a $5 commission.

Example: Gain scenario

Gain scenario: If the share price climbs by 10%, your holding would now be worth $1,100 CAD.
Result: That’s a $100 gross gain, or a 10% return on your investment.

Trading via CFD

CFD trading lets you speculate on Novo Nordisk’s share price movements using leverage, without owning the actual stock. Instead of a flat commission, CFD brokers usually charge a spread (a small markup on the buy/sell price) and overnight financing fees if you hold the position beyond a day. For instance, with a $1,000 CAD stake and 5x leverage, your market exposure rises to $5,000.

Example: Gain scenario

Gain scenario: If Novo Nordisk shares increase by 8%, your CFD position would generate a 40% gain (8% × 5 leverage).
Result: You would earn $400 CAD on your $1,000 investment (before fees).

Final advice

It’s essential to compare brokers’ fees, trading platforms, and conditions before investing, as costs and available features can vary widely. Remember, the best method for you—spot buying for long-term ownership or CFD trading for flexibility and leverage—should align with your personal financial goals and risk tolerance. For a full, up-to-date comparison of the top platforms and their costs, check out our broker comparison tool below.

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Our 7 tips for buying Novo Nordisk stock

The latest news about Novo Nordisk

Health Canada approved Wegovy in late 2023, enabling broader Canadian access to this innovative obesity medicine. This regulatory milestone positions Novo Nordisk as the principal provider of GLP-1-based weight management treatments in Canada, where obesity rates are rising and public health authorities are intensifying their focus on chronic disease prevention. Since early 2024, Canadian physicians have reported steadily increasing demand for Wegovy, and analysts expect a positive medium-term impact on Novo Nordisk’s Canadian revenues, a key metric for global investors assessing international growth.

Recent Canadian pharmacy chains, such as Loblaw’s Shoppers Drug Mart, have confirmed nation-wide stocking of Novo Nordisk’s GLP-1 drugs, including Ozempic and Wegovy. The broad retail distribution and high visibility of these products in Canada’s largest pharmacy networks signals growing market penetration, facilitating easier patient access and accelerating brand recognition. According to recent company statements and expert commentary, this expansion supports forecasts of stronger Canadian sales volumes in 2025, which may serve as a meaningful tailwind for overall global performance.

Novo Nordisk’s successful legal actions in North America have stopped unauthorized compounders of weight-loss drugs from selling unapproved versions in Canada. By winning key court cases during the past week, Novo Nordisk has protected both its intellectual property and the safety/reputation of its core products—crucial elements for maintaining regulatory trust and patient confidence in the Canadian market. This outcome is especially significant for investors concerned about margin erosion or reputational risks arising from unauthorized drug sales.

Strategic partnerships with leading North American telehealth providers are extending virtual access to Wegovy for Canadian patients. Within the last few days, Novo Nordisk’s announced collaborations with platforms such as Ro and LifeMD create new digital pathways for patient engagement and prescription fulfillment in Canada, reflecting a growing trend toward telemedicine in chronic disease management. This aligns with the expectations of Canadian healthcare consumers and could drive incremental demand, reinforcing the company’s Canadian revenue expansion strategy.

Recent supply chain stabilization has ensured full Canadian availability of Wegovy and Ozempic, as confirmed by health authorities and pharmacy groups. After earlier global shortages, the company’s ability to meet all current demand across dosage forms has been publicly acknowledged, eliminating a major near-term risk for Canadian health providers and patients. This supply reliability reinforces confidence among analysts and institutional investors monitoring the stock, especially in the run-up to the upcoming Q1 2025 financial results.

FAQ

P. Laurore

Finance expert

Co-founder of HelloSafe and holder of a Master's degree in finance, Pauline has recognised expertise in personal finance, which she uses to help users better understand and optimise their financial choices. At HelloSafe, Pauline plays a key role in designing clear, educational content on savings, investments and personal finance. Passionate about financial education, Pauline strives, with every piece of content she oversees, to provide reliable, transparent and unbiased information for independent and informed financial management. To this end, she has tested over 100 trading platforms to help internet users make the right choices.