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Novo Nordisk (NVO) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $123.46, marking a -0.36% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
Heading into today, shares of the drugmaker had lost 6.77% over the past month, lagging the Medical sector's loss of 5.81% and the S&P 500's loss of 0.9% in that time.
The investment community will be paying close attention to the earnings performance of Novo Nordisk in its upcoming release. In that report, analysts expect Novo Nordisk to post earnings of $0.77 per share. This would mark year-over-year growth of 20.31%. In the meantime, our current consensus estimate forecasts the revenue to be $9.48 billion, indicating a 23.23% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.33 per share and revenue of $42 billion. These totals would mark changes of +23.33% and +24.6%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Novo Nordisk. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.89% lower. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Novo Nordisk is presently being traded at a Forward P/E ratio of 37.23. This indicates a premium in contrast to its industry's Forward P/E of 13.85.
Investors should also note that NVO has a PEG ratio of 2.06 right now. 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. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.69 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Novo Nordisk (NVO) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $123.46, marking a -0.36% move from the previous day. This move lagged the S&P 500's daily gain of 0.03%. On the other hand, the Dow registered a gain of 0.41%, and the technology-centric Nasdaq increased by 0.12%.
Heading into today, shares of the drugmaker had lost 6.77% over the past month, lagging the Medical sector's loss of 5.81% and the S&P 500's loss of 0.9% in that time.
The investment community will be paying close attention to the earnings performance of Novo Nordisk in its upcoming release. In that report, analysts expect Novo Nordisk to post earnings of $0.77 per share. This would mark year-over-year growth of 20.31%. In the meantime, our current consensus estimate forecasts the revenue to be $9.48 billion, indicating a 23.23% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.33 per share and revenue of $42 billion. These totals would mark changes of +23.33% and +24.6%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Novo Nordisk. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.89% lower. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Novo Nordisk is presently being traded at a Forward P/E ratio of 37.23. This indicates a premium in contrast to its industry's Forward P/E of 13.85.
Investors should also note that NVO has a PEG ratio of 2.06 right now. 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. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.69 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 195, placing it within the bottom 23% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.