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Novo Nordisk (NVO) Stock Moves -0.41%: What You Should Know
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Novo Nordisk (NVO - Free Report) closed the most recent trading day at $146.69, moving -0.41% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.65%. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 6.65%.
Coming into today, shares of the drugmaker had gained 3.28% in the past month. In that same time, the Medical sector lost 1.27%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from Novo Nordisk as it approaches its next earnings report date. On that day, Novo Nordisk is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 10.64%. Meanwhile, our latest consensus estimate is calling for revenue of $6.7 billion, up 5.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.43 per share and revenue of $29.81 billion, which would represent changes of +28.03% and +19.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Novo Nordisk. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.42% higher within the past month. Novo Nordisk currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Novo Nordisk has a Forward P/E ratio of 33.27 right now. For comparison, its industry has an average Forward P/E of 14.02, which means Novo Nordisk is trading at a premium to the group.
It is also worth noting that NVO currently has a PEG ratio of 1.56. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NVO's industry had an average PEG ratio of 1.62 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Novo Nordisk (NVO) Stock Moves -0.41%: What You Should Know
Novo Nordisk (NVO - Free Report) closed the most recent trading day at $146.69, moving -0.41% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.65%. Meanwhile, the Dow lost 1.63%, and the Nasdaq, a tech-heavy index, lost 6.65%.
Coming into today, shares of the drugmaker had gained 3.28% in the past month. In that same time, the Medical sector lost 1.27%, while the S&P 500 gained 0.3%.
Wall Street will be looking for positivity from Novo Nordisk as it approaches its next earnings report date. On that day, Novo Nordisk is projected to report earnings of $1.04 per share, which would represent year-over-year growth of 10.64%. Meanwhile, our latest consensus estimate is calling for revenue of $6.7 billion, up 5.71% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.43 per share and revenue of $29.81 billion, which would represent changes of +28.03% and +19.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Novo Nordisk. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 5.42% higher within the past month. Novo Nordisk currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Novo Nordisk has a Forward P/E ratio of 33.27 right now. For comparison, its industry has an average Forward P/E of 14.02, which means Novo Nordisk is trading at a premium to the group.
It is also worth noting that NVO currently has a PEG ratio of 1.56. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NVO's industry had an average PEG ratio of 1.62 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 97, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.