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Novo Nordisk (NVO) Outpaces Stock Market Gains: What You Should Know
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Novo Nordisk (NVO - Free Report) closed at $143.07 in the latest trading session, marking a +0.49% move from the prior day. This change outpaced the S&P 500's 0.1% gain on the day. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq appreciated by 0.28%.
The drugmaker's stock has dropped by 0.36% in the past month, exceeding the Medical sector's loss of 0.44% and lagging the S&P 500's gain of 4.08%.
Investors will be eagerly watching for the performance of Novo Nordisk in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.82, marking a 30.16% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $9.85 billion, indicating a 24.13% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.44 per share and revenue of $42.38 billion, which would represent changes of +27.41% and +25.72%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Novo Nordisk. Such recent modifications usually signify the changing landscape of 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. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.68% upward. Novo Nordisk is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Novo Nordisk currently has a Forward P/E ratio of 41.35. This indicates a premium in contrast to its industry's Forward P/E of 14.76.
Investors should also note that NVO has a PEG ratio of 1.4 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.84.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Novo Nordisk (NVO) Outpaces Stock Market Gains: What You Should Know
Novo Nordisk (NVO - Free Report) closed at $143.07 in the latest trading session, marking a +0.49% move from the prior day. This change outpaced the S&P 500's 0.1% gain on the day. Elsewhere, the Dow saw a downswing of 0.08%, while the tech-heavy Nasdaq appreciated by 0.28%.
The drugmaker's stock has dropped by 0.36% in the past month, exceeding the Medical sector's loss of 0.44% and lagging the S&P 500's gain of 4.08%.
Investors will be eagerly watching for the performance of Novo Nordisk in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.82, marking a 30.16% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $9.85 billion, indicating a 24.13% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.44 per share and revenue of $42.38 billion, which would represent changes of +27.41% and +25.72%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Novo Nordisk. Such recent modifications usually signify the changing landscape of 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. 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.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.68% upward. Novo Nordisk is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Novo Nordisk currently has a Forward P/E ratio of 41.35. This indicates a premium in contrast to its industry's Forward P/E of 14.76.
Investors should also note that NVO has a PEG ratio of 1.4 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.84.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 84, finds itself in the top 34% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.