The Morningstar Denmark Index rose 14.00% in the second quarter amid a rally in the consumer cyclical sector. The Denmark index tracks the performance of the top 97% of the Danish investable universe by market cap, and each quarter we screen from among the stocks in this index to find the best- and worst-performing companies. Data in this article is sourced from Morningstar Direct.
The Best-Performing Stocks of Q2 2026
The Worst-Performing Stocks of Q2 2026
Metrics for the Best-Performing Stocks
Pandora PNDORA
- Sector: Consumer Cyclical
- Industry: Luxury Goods
- Economic Moat: Narrow
Pandora soared 65.39% in the second quarter, but was down 29.29% over the past year. The company’s stock has a Morningstar Rating of 4 stars and trades at a 13% discount to the fair value estimate of DKK 860.00.
Demant DEMANT
- Sector: Healthcare
- Industry: Medical Devices
- Economic Moat: Narrow
Demant surged 38.27% in the second quarter, but shares were flat for the year, having risen only 1.32%. The company’s stock has a Morningstar Rating of 3 stars, trading near its fair value estimate of DKK 261.00.
Novo Nordisk NOVO B
- Sector: Healthcare
- Industry: Drug Manufacturers - General
- Economic Moat: Wide
Novo Nordisk climbed 36.21% in the second quarter, but over the past year, shares were down 25.23%. Novo Nordisk has a Morningstar Rating of 3 stars, with its stock trading at an 8% discount to the DKK 343.00 fair value estimate.
ALK-Abello ALK B
- Sector: Healthcare
- Industry: Biotechnology
- Economic Moat: Not Rated
ALK-Abello climbed 20.73% in the second quarter, leaving the stock up 31.39% for the past year. The company’s stock has a quantitative Morningstar Rating of 3 stars.
ChemoMetec CHEMM
- Sector: Healthcare
- Industry: Medical Devices
- Economic Moat: Not Rated
ChemoMetec jumped 20.37% in the second quarter, but was still down 37.51% over the past year. The company’s stock has a quantitative Morningstar Rating of 2 stars.
Metrics for the Worst-Performing Stocks
Netcompany Group NETC
- Sector: Technology
- Industry: Information Technology Services
- Economic Moat: Not Rated
Netcompany Group dropped 23.73% in the second quarter, however, shares were still up 10.16% for the past year. Shares were 26.31% lower than their last high on April 17, 2026. The company’s stock has a quantitative Morningstar Rating of 3 stars.
Royal Unibrew RBREW
- Sector: Consumer Defensive
- Industry: Beverages - Brewers
- Economic Moat: Narrow
Royal Unibrew slid 14.69% in the second quarter, leaving the stock down 13.67% for the past year. Shares were 33.99% below their last high on Feb. 24, 2026. The company’s stock has a Morningstar Rating of 3 stars, trading at an 11% discount to its fair value estimate of DKK 487.00.
Coloplast COLO B
- Sector: Healthcare
- Industry: Medical Instruments & Supplies
- Economic Moat: Narrow
Coloplast tumbled 13.66% in the second quarter, leaving shares down 35.53% for the past year. Stocks in the company were 42.42% below the last high on Sept. 2, 2025. Coloplast has a Morningstar Rating of 4 stars, with its stock trading at a 15% discount to the DKK 440.00 fair value estimate.
GN Store Nord GN
- Sector: Healthcare
- Industry: Medical Devices
- Economic Moat: None
GN Store Nord slid 13.50% in the second quarter, leaving the stock down 10.67% for the past year. Shares were 30.69% below their last high on Aug. 22, 2025. The company’s stock has a Morningstar Rating of 4 stars, trading at a 29% discount to its fair value estimate of DKK 123.00.
Ambu AMBU B
- Sector: Healthcare
- Industry: Medical Devices
- Economic Moat: Not Rated
Ambu tumbled 10.85% in the second quarter, leaving shares down 38.46% for the past year. Stocks in the company were 45.44% below the last high on Oct. 7, 2025. Ambu has a quantitative Morningstar Rating of 3 stars.
Companies that are not formally covered by a Morningstar analyst are statistically matched to analyst-rated companies, allowing our models to calculate a quantitative star rating.
