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Novo Nordisk (NVO) Dips More Than Broader Market: What You Should Know
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Novo Nordisk (NVO - Free Report) closed at $38.31 in the latest trading session, marking a -1.03% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
The drugmaker's shares have seen a decrease of 14.6% over the last month, not keeping up with the Medical sector's loss of 0.67% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of Novo Nordisk in its upcoming release. It is anticipated that the company will report an EPS of $0.81, marking a 20.59% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $11.41 billion, indicating a 2.79% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.54 per share and revenue of $46.1 billion, which would represent changes of -10.61% and -1.46%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Novo Nordisk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.49% upward. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Novo Nordisk is holding a Forward P/E ratio of 10.93. This expresses a discount compared to the average Forward P/E of 16.57 of its industry.
Investors should also note that NVO has a PEG ratio of 1.27 right now. 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 industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 110, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
View the Zacks #1 Rank List
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Novo Nordisk (NVO) Dips More Than Broader Market: What You Should Know
Novo Nordisk (NVO - Free Report) closed at $38.31 in the latest trading session, marking a -1.03% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.17%. Elsewhere, the Dow saw a downswing of 0.26%, while the tech-heavy Nasdaq depreciated by 0.09%.
The drugmaker's shares have seen a decrease of 14.6% over the last month, not keeping up with the Medical sector's loss of 0.67% and the S&P 500's loss of 0.24%.
The investment community will be paying close attention to the earnings performance of Novo Nordisk in its upcoming release. It is anticipated that the company will report an EPS of $0.81, marking a 20.59% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $11.41 billion, indicating a 2.79% decline compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.54 per share and revenue of $46.1 billion, which would represent changes of -10.61% and -1.46%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Novo Nordisk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.49% upward. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Novo Nordisk is holding a Forward P/E ratio of 10.93. This expresses a discount compared to the average Forward P/E of 16.57 of its industry.
Investors should also note that NVO has a PEG ratio of 1.27 right now. 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 industry currently had an average PEG ratio of 2.17 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 110, putting it in the top 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.