Novo Nordisk Isn't in The "Magnificent Seven," but Here's Why I Think It Should Be

The "Magnificent Seven" are helping lift major U.S. indexes to record highs. This group of highly acclaimed stocks -- among the heaviest-weighted equities in the S 500 -- is comprised of Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla. There are good reasons to invest in all seven of these corporations, and that's why they've performed so well in recent years.

However, some companies outside this clique are just as impressive and deserve to be considered on par with the Magnificent Seven. One of these corporations is Novo Nordisk (NYSE: NVO), a Denmark-based pharmaceutical giant. Here's why this drugmaker has earned consideration for inclusion in what would be called the Magnificent Eight.

NVO Total Return Level data by YCharts.