Yahoo Finance Novo Nordisk (NVO) Advances While Market Declines: Some Information for Investors
Novo Nordisk (NVO) closed the latest trading day at $142.50, indicating a +0.01% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.12%.
Coming into today, shares of the drugmaker had gained 7.1% in the past month. In that same time, the Medical sector gained 2.3%, while the S&P 500 gained 4.15%.
Investors will be eagerly watching for the performance of Novo Nordisk in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.82, signifying a 30.16% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $9.86 billion, indicating a 24.28% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.42 per share and revenue of $42.19 billion, indicating changes of +26.67% and +25.14%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Novo Nordisk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 moved 0.15% higher. Right now, Novo Nordisk possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Novo Nordisk is presently being traded at a Forward P/E ratio of 41.66. This represents a premium compared to its industry's average Forward P/E of 14.58.
One should further note that NVO currently holds a PEG ratio of 1.47. 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. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.79 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 150, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Novo Nordisk A/S (NVO) : Free Stock Analysis Report
