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Novo Nordisk (NVO) Stock Moves -0.59%: What You Should Know
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In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $159.07, marking a -0.59% move from the previous day. This change was narrower than the S&P 500's 0.77% loss on the day. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 2.23%.
Prior to today's trading, shares of the drugmaker had lost 1.49% over the past month. This has lagged the Medical sector's gain of 0.41% and the S&P 500's gain of 4.66% in that time.
Investors will be hoping for strength from Novo Nordisk as it approaches its next earnings release. The company is expected to report EPS of $1.28, up 52.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.28 billion, up 40.04% from the year-ago period.
Any recent changes to analyst estimates for Novo Nordisk should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.74% lower. Novo Nordisk is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Novo Nordisk has a Forward P/E ratio of 31.8 right now. For comparison, its industry has an average Forward P/E of 14.91, 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 1.53. 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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 -0.59%: What You Should Know
In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $159.07, marking a -0.59% move from the previous day. This change was narrower than the S&P 500's 0.77% loss on the day. At the same time, the Dow lost 0.65%, and the tech-heavy Nasdaq lost 2.23%.
Prior to today's trading, shares of the drugmaker had lost 1.49% over the past month. This has lagged the Medical sector's gain of 0.41% and the S&P 500's gain of 4.66% in that time.
Investors will be hoping for strength from Novo Nordisk as it approaches its next earnings release. The company is expected to report EPS of $1.28, up 52.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $8.28 billion, up 40.04% from the year-ago period.
Any recent changes to analyst estimates for Novo Nordisk should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.74% lower. Novo Nordisk is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Novo Nordisk has a Forward P/E ratio of 31.8 right now. For comparison, its industry has an average Forward P/E of 14.91, 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 1.53. 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. The Large Cap Pharmaceuticals was holding an average PEG ratio of 1.74 at yesterday's closing price.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% 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.