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Novo Nordisk (NVO) Gains As Market Dips: What You Should Know
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Novo Nordisk (NVO - Free Report) closed the most recent trading day at $91.79, moving +0.72% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.47%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 1.57%.
Heading into today, shares of the drugmaker had lost 2.79% over the past month, lagging the Medical sector's loss of 2.14% and the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Novo Nordisk as it approaches its next earnings report date. On that day, Novo Nordisk is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 16.28%. Our most recent consensus estimate is calling for quarterly revenue of $8.21 billion, up 32.95% from the year-ago period.
NVO's full-year Zacks Consensus Estimates are calling for earnings of $2.12 per share and revenue of $33.11 billion. These results would represent year-over-year changes of +22.54% and +32.33%, respectively.
Any recent changes to analyst estimates for Novo Nordisk should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 18.58% lower. Novo Nordisk is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Novo Nordisk is holding a Forward P/E ratio of 43.02. This valuation marks a premium compared to its industry's average Forward P/E of 14.72.
Meanwhile, NVO's PEG ratio is currently 1.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NVO's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Novo Nordisk (NVO) Gains As Market Dips: What You Should Know
Novo Nordisk (NVO - Free Report) closed the most recent trading day at $91.79, moving +0.72% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.47%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 1.57%.
Heading into today, shares of the drugmaker had lost 2.79% over the past month, lagging the Medical sector's loss of 2.14% and the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Novo Nordisk as it approaches its next earnings report date. On that day, Novo Nordisk is projected to report earnings of $0.50 per share, which would represent year-over-year growth of 16.28%. Our most recent consensus estimate is calling for quarterly revenue of $8.21 billion, up 32.95% from the year-ago period.
NVO's full-year Zacks Consensus Estimates are calling for earnings of $2.12 per share and revenue of $33.11 billion. These results would represent year-over-year changes of +22.54% and +32.33%, respectively.
Any recent changes to analyst estimates for Novo Nordisk should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 18.58% lower. Novo Nordisk is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Novo Nordisk is holding a Forward P/E ratio of 43.02. This valuation marks a premium compared to its industry's average Forward P/E of 14.72.
Meanwhile, NVO's PEG ratio is currently 1.76. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. NVO's industry had an average PEG ratio of 1.76 as of yesterday's close.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.