We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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) Suffers a Larger Drop Than the General Market: Key Insights
Read MoreHide Full Article
Novo Nordisk (NVO - Free Report) ended the recent trading session at $44.01, demonstrating a -1.23% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.59%. At the same time, the Dow lost 0.6%, and the tech-heavy Nasdaq lost 0.65%.
Shares of the drugmaker witnessed a loss of 3.94% over the previous month, trailing the performance of the Medical sector with its loss of 0.36%, and the S&P 500's loss of 1.37%.
Analysts and investors alike will be keeping a close eye on the performance of Novo Nordisk in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.8, marking a 21.57% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.47 billion, indicating a 2.35% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.45 per share and a revenue of $45.79 billion, representing changes of -12.88% and -2.11%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Novo Nordisk. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.86% upward. Novo Nordisk is currently a Zacks Rank #3 (Hold).
In terms of valuation, Novo Nordisk is currently trading at a Forward P/E ratio of 12.91. This expresses a discount compared to the average Forward P/E of 15.55 of its industry.
We can additionally observe that NVO currently boasts a PEG ratio of 1.5. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.01 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 42% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
Image: Bigstock
Novo Nordisk (NVO) Suffers a Larger Drop Than the General Market: Key Insights
Novo Nordisk (NVO - Free Report) ended the recent trading session at $44.01, demonstrating a -1.23% change from the preceding day's closing price. This move lagged the S&P 500's daily loss of 0.59%. At the same time, the Dow lost 0.6%, and the tech-heavy Nasdaq lost 0.65%.
Shares of the drugmaker witnessed a loss of 3.94% over the previous month, trailing the performance of the Medical sector with its loss of 0.36%, and the S&P 500's loss of 1.37%.
Analysts and investors alike will be keeping a close eye on the performance of Novo Nordisk in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.8, marking a 21.57% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $11.47 billion, indicating a 2.35% decrease compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.45 per share and a revenue of $45.79 billion, representing changes of -12.88% and -2.11%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Novo Nordisk. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.86% upward. Novo Nordisk is currently a Zacks Rank #3 (Hold).
In terms of valuation, Novo Nordisk is currently trading at a Forward P/E ratio of 12.91. This expresses a discount compared to the average Forward P/E of 15.55 of its industry.
We can additionally observe that NVO currently boasts a PEG ratio of 1.5. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 2.01 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 42% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.