Quick Read – NVO trades at a forward P/E of 14 and PFE at just 8x, making both the cheapest large-cap healthcare names despite strong underlying free cash flow. – Novo’s oral Wegovy captured 65% of new US prescriptions and generated $2.26 billion in Q1, but planned US price cuts…
~50% threaten margins. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and Novo Nordisk didn’t make the cut. Grab the names FREE today
Healthcare has become Wall Street’s bargain bin in 2026, and value hunters are starting to pay attention. Drug pricing reform, patent cliffs and post-COVID-19 hangovers have crushed multiples across Big Pharma, but the wreckage has created opportunities in two cash-generative franchises trading at single-digit forward earnings multiples. Heading into July, Novo Nordisk and Pfizer stand out as the cheapest large-cap names in the group, with concrete catalysts that could re-rate them before year-end.
Both report Q2 earnings in early August, which means the window to position before the next data point is narrow. Here’s the case for each. Novo Nordisk (NVO) Novo Nordisk (NYSE:NVO) trades around $49 after a brutal 12-month derating that took the stock down 29% from a year ago.