The Best Stock to Buy With Less Than $60 in the Market Sell-Off

Core Viewpoint - Novo Nordisk is currently undervalued at $60 per share despite significant earnings growth and a strong business model, presenting a potential investment opportunity [2][10] Company Challenges - Novo Nordisk has historically focused on endocrine-related disorders, particularly diabetes and obesity, which now account for nearly 94% of its revenue [3][4] - The company faces increasing competition in the diabetes and obesity markets, particularly from Eli Lilly, which is advancing its own GLP-1 drug [5][6] Financial Performance - In 2024, Novo Nordisk's revenue increased by 25% year over year to 290.4 billion Danish kroner ($44.6 billion) [4] - The stock has dropped 51% over the trailing-12-month period, with a current forward price-to-earnings (P/E) ratio of 14.6, below the healthcare industry average of 15.7 [7] Future Prospects - Novo Nordisk is seeking approval for an oral version of its weight loss drug Wegovy, which could help mitigate competition from Eli Lilly [7][8] - The company has a robust pipeline of GLP-1 medicines and is diversifying its product lineup to include treatments for conditions like Alzheimer's disease [8][9] - Novo Nordisk is expected to continue growing its revenue and earnings at a faster rate than most peers while maintaining a solid dividend program [10]