Will NVO's earnings momentum continue into 2024?

**Novo Nordisk's earnings momentum is likely to continue into 2024**, driven by several key factors:

1. **Strong Financial Performance**: Novo Nordisk reported a net profit of $3.92 billion and total revenue of $11.89 billion for Q4 2024. The company's net income grew by 20.22% year-over-year, while total revenue increased by 21.68%.

|code|Ticker|Name|Date|Net Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code|
|---|---|---|---|---|---|---|---|
|NVO|NVO.N|Novo Nordisk|2024 Q1|27.119865367526558|21.394315793120757|28.267317056789565|169|
|NVO|NVO.N|Novo Nordisk|2024 Q2|1.087784696195712|22.77346479303364|1.806379075907803|169|
|NVO|NVO.N|Novo Nordisk|2024 Q3|27.944356990335393|27.90554690090793|28.93821859524562|169|
|NVO|NVO.N|Novo Nordisk|2024 Q4|20.22420541020714|21.681864093577463||169|

|code|Ticker|Name|Date|Total Revenue|Net Income|market_code|
|---|---|---|---|---|---|---|
|NVO|NVO.N|Novo Nordisk|2024 Q1|9.45552129183E9|3.67620666669E9|169|
|NVO|NVO.N|Novo Nordisk|2024 Q2|9.7756456456E9|2.879836838E9|169|
|NVO|NVO.N|Novo Nordisk|2024 Q3|1.066109504851E10|4.08153799441E9|169|
|NVO|NVO.N|Novo Nordisk|2024 Q4|1.189281839343E10|3.9183299283E9|169|

|code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code|
|---|---|---|---|---|---|---|
|NVO|NVO.N|Novo Nordisk|2024 Q1|28.267317056789565|0.8218543656|169|
|NVO|NVO.N|Novo Nordisk|2024 Q2|1.806379075907803|0.6449110924|169|
|NVO|NVO.N|Novo Nordisk|2024 Q3|28.93821859524562|0.9149486292|169|

2. **Growth Drivers**: The company's diabetes and obesity care segments were the key drivers of growth, with obesity care segment seeing a 57% growth. The GLP-1 diabetes segment contributed significantly, with Ozempic®, Rybelsus®, and Victoza® dominating the market.
3. **Strategic Investments**: Novo Nordisk has been investing in R&D and supply chain expansions, which are set to continue in 2025. These investments are likely to pay off in the coming years, sustaining the company's growth trajectory.
4. **Market Position**: Novo Nordisk maintains a strong market position in the diabetes value market, with a share of 33.7%. The company's leadership, coupled with its innovative products, positions it well for continued success.
5. **Analyst Confidence**: The consensus rating for Novo Nordisk is a "Strong Buy" with an average analyst price target that suggests a potential upside from the current price. This indicates that analysts are optimistic about the company's future performance.

6. **Potential Challenges**: Despite the positive outlook, there are potential challenges such as competition from other drugmakers and the need to meet earnings expectations. Bank of America has lowered its price target, indicating a potential near-term miss in the first quarter due to slower sales of Wegovy and Ozempic. However, the full-year outlook remains positive.

In conclusion, while there may be some short-term challenges, Novo Nordisk's strong financial performance, growth drivers, strategic investments, and market position suggest that its earnings momentum is likely to continue into 2024.