We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Novo Nordisk (NVO) Stock Moves -0.89%: What You Should Know
Read MoreHide Full Article
The most recent trading session ended with Novo Nordisk (NVO - Free Report) standing at $118.01, reflecting a -0.89% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 0.93%. Meanwhile, the Dow experienced a drop of 0.41%, and the technology-dominated Nasdaq saw a decrease of 1.53%.
Heading into today, shares of the drugmaker had lost 14.44% over the past month, lagging the Medical sector's loss of 3.08% and the S&P 500's gain of 2.17% in that time.
Market participants will be closely following the financial results of Novo Nordisk in its upcoming release. The company plans to announce its earnings on November 6, 2024. The company's upcoming EPS is projected at $0.91, signifying a 24.66% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.79 billion, up 25.8% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.11 per share and revenue of $42.61 billion, indicating changes of +15.19% and +26.4%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Novo Nordisk. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
Investors should also note Novo Nordisk's current valuation metrics, including its Forward P/E ratio of 38.33. This indicates a premium in contrast to its industry's Forward P/E of 15.77.
It's also important to note that NVO currently trades at a PEG ratio of 1.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.67.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 30, positioning it in the top 12% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Novo Nordisk (NVO) Stock Moves -0.89%: What You Should Know
The most recent trading session ended with Novo Nordisk (NVO - Free Report) standing at $118.01, reflecting a -0.89% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 0.93%. Meanwhile, the Dow experienced a drop of 0.41%, and the technology-dominated Nasdaq saw a decrease of 1.53%.
Heading into today, shares of the drugmaker had lost 14.44% over the past month, lagging the Medical sector's loss of 3.08% and the S&P 500's gain of 2.17% in that time.
Market participants will be closely following the financial results of Novo Nordisk in its upcoming release. The company plans to announce its earnings on November 6, 2024. The company's upcoming EPS is projected at $0.91, signifying a 24.66% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.79 billion, up 25.8% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.11 per share and revenue of $42.61 billion, indicating changes of +15.19% and +26.4%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Novo Nordisk. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
Investors should also note Novo Nordisk's current valuation metrics, including its Forward P/E ratio of 38.33. This indicates a premium in contrast to its industry's Forward P/E of 15.77.
It's also important to note that NVO currently trades at a PEG ratio of 1.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.67.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 30, positioning it in the top 12% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.