15 Set-It-and-Forget-It Stocks to Buy According to Analysts

4. Novo Nordisk A/S (NYSE:NVO)

Analyst Upside: 23.19%

Number of Hedge Fund Holders: 60

Novo Nordisk A/S (NYSE:NVO) ranks among the best set-it-and-forget-it stocks to buy. Novo Nordisk A/S (NYSE:NVO) announced on June 26 that it will collaborate with WeightWatchers to begin distributing the bestselling weight-loss medication Wegovy, beginning July 1.

The agreement allows cash-paying patients to purchase a month’s supply of Wegovy for $299 at the Danish pharmaceutical company’s Novocare pharmacy. Novo’s other telehealth partners will also be able to provide the one-time fee through July 31.

Compounded forms of semaglutide, the active component of Wegovy and other Novo Nordisk A/S (NYSE:NVO) medications, are no longer available from WeightWatchers, which has emerged from bankruptcy. According to Evan Seigerman, an analyst at BMO Capital Markets, the collaboration enables WeightWatchers to revive its weight-loss medication approach while also assisting Novo Nordisk A/S (NYSE:NVO) in gaining patients who have been using compounded forms of the medication.

Novo Nordisk A/S (NYSE:NVO) is a prominent global healthcare company that focuses on treating rare diseases, diabetes, and obesity. With 48,000 workers spread across more than 168 countries, Novo Nordisk is well-known for its pharmaceuticals, which include Wegovy, Rybelsus, and Ozempic.