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Novo Nordisk (NVO) Dips More Than Broader Market: What You Should Know
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In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $106.35, marking a -0.76% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Shares of the drugmaker have appreciated by 8.26% over the course of the past month, outperforming the Medical sector's gain of 4.61% and the S&P 500's gain of 1.56%.
Investors will be eagerly watching for the performance of Novo Nordisk in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.65, showcasing a 54.76% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $8.75 billion, up 32.52% from the prior-year quarter.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.52% increase. Novo Nordisk currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Novo Nordisk is presently trading at a Forward P/E ratio of 34.39. This signifies a premium in comparison to the average Forward P/E of 14.51 for its industry.
Meanwhile, NVO's PEG ratio is currently 1.24. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.82.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 28% of over 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 (NVO) Dips More Than Broader Market: What You Should Know
In the latest trading session, Novo Nordisk (NVO - Free Report) closed at $106.35, marking a -0.76% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Shares of the drugmaker have appreciated by 8.26% over the course of the past month, outperforming the Medical sector's gain of 4.61% and the S&P 500's gain of 1.56%.
Investors will be eagerly watching for the performance of Novo Nordisk in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.65, showcasing a 54.76% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $8.75 billion, up 32.52% from the prior-year quarter.
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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.52% increase. Novo Nordisk currently has a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Novo Nordisk is presently trading at a Forward P/E ratio of 34.39. This signifies a premium in comparison to the average Forward P/E of 14.51 for its industry.
Meanwhile, NVO's PEG ratio is currently 1.24. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Large Cap Pharmaceuticals industry held an average PEG ratio of 1.82.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 28% of over 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.