Despite falling hard since last summer, shares of Novo Nordisk have more than doubled the market's overall performance. The stock is up by about 191% over the past five years compared to a 94% gain from the benchmark S&P 500 index.

U.S. stocks reversed early gains and fell around noon after a weak jobs report and concerns over stagflation. At noon in New York, the S&P 500 dipped 0.57%, while the Nasdaq 100 dropped 0.68%. The Dow Jones Industrial Average shed 0.

Novo Nordisk's (NYSE: NVO) latest move in the retail sphere was met with approval from market participants Wednesday. They bid the stock up by nearly 4% following the company's news, a performance that easily beat the recovering S&P 500's (SNPINDEX: ^GSPC) 1.

Novo Nordisk NVO shares have lost 21% in the past three months against the industry’s growth of 4.6%. The company has also underperformed in the sector and the S&P 500 during the same time frame, as seen in the chart below.