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With Shares Trading Near All-Time Highs, Is Now the Time to Take Profits in Novo Nordisk?

TheMotleyFool

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With Shares Trading Near All-Time Highs, Is Now the Time to Take Profits in Novo Nordisk?: https://g.foolcdn.com/editorial/images/769867/gettyimages-1434356176.jpg

If you aren't familiar with the Danish pharmaceutical company Novo Nordisk (NYSE: NVO), I bet you've seen commercials for its flagship medications Ozempic, Rybelsus, and Wegovy.

Indeed, the diabetes and obesity-care markets are scorching hot -- and Novo Nordisk is leading the charge thanks to its breakthrough treatments. 2023 was a milestone year for the company, and investors sent shares soaring by 53%.

But even after such a significant run-up in the stock, the momentum doesn't appear to be slowing down -- shares of Novo Nordisk are up 27% so far this year. With the stock hovering around all-time highs, surely some investors might be considering taking some profits.

Source Fool.com

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