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Novo Nordisk (NVO) Rises Higher Than Market: Key Facts
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In the latest market close, Novo Nordisk (NVO - Free Report) reached $125.44, with a +1.41% movement compared to the previous day. This change outpaced the S&P 500's 0.25% gain on the day. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.56%.
Shares of the drugmaker witnessed a loss of 8.57% over the previous month, trailing the performance of the Medical sector with its loss of 1.51% and the S&P 500's gain of 1.65%.
The upcoming earnings release of Novo Nordisk will be of great interest to investors. The company's earnings report is expected on November 6, 2024. The company is forecasted to report an EPS of $0.91, showcasing a 24.66% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $10.79 billion, up 25.8% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.11 per share and a revenue of $42.61 billion, signifying shifts of +15.19% and +26.4%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Novo Nordisk. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Novo Nordisk has a Forward P/E ratio of 39.83 right now. This expresses a premium compared to the average Forward P/E of 15.91 of its industry.
Also, we should mention that NVO has a PEG ratio of 1.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Novo Nordisk (NVO) Rises Higher Than Market: Key Facts
In the latest market close, Novo Nordisk (NVO - Free Report) reached $125.44, with a +1.41% movement compared to the previous day. This change outpaced the S&P 500's 0.25% gain on the day. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.56%.
Shares of the drugmaker witnessed a loss of 8.57% over the previous month, trailing the performance of the Medical sector with its loss of 1.51% and the S&P 500's gain of 1.65%.
The upcoming earnings release of Novo Nordisk will be of great interest to investors. The company's earnings report is expected on November 6, 2024. The company is forecasted to report an EPS of $0.91, showcasing a 24.66% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $10.79 billion, up 25.8% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.11 per share and a revenue of $42.61 billion, signifying shifts of +15.19% and +26.4%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Novo Nordisk. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Novo Nordisk presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Novo Nordisk has a Forward P/E ratio of 39.83 right now. This expresses a premium compared to the average Forward P/E of 15.91 of its industry.
Also, we should mention that NVO has a PEG ratio of 1.35. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Large Cap Pharmaceuticals industry had an average PEG ratio of 1.68 as trading concluded yesterday.
The Large Cap Pharmaceuticals industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 80, placing it within the top 32% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.