Shares of Novo Nordisk ( NVO 4.37%) were moving higher on Wednesday. The company's stock gained 4.9% as of 1:50 p.m. ET, but gained as much as 5.8% earlier in the day. The leg up comes as the S&P 500 ( ^GSPC 0.26%) gained 0.2%, and the Nasdaq Composite ( ^IXIC 0.02%) lost 0.1% on the day.

In its outlook for 2025, Novo Nordisk has predicted 'continued periodic supply constraints and related drug shortage notifications'.

Novo Nordisk stock rose Wednesday after the drugmaker reported quarterly earnings above analysts’ expectations, but forecast slower growth ahead.Novo posted fourth-quarter earnings of 6.34 ($0.88) Danish kroner a share on sales of 85.