Novo Nordisk Stock Update: Analysts Predict Strong Q3 Growth in EPS and Revenue

At the end of the most recent trading day, Novo Nordisk (NVO) was trading at $132.06, up +0.05% from the previous session. The stock outperformed the S&P 500, which lost 0.29% on a daily basis. The financial world will be closely monitoring Novo Nordisk’s profits performance in its next report. On November 6, 2024, the corporation is scheduled to release its profits. The anticipated EPS for the company in the current quarter is $0.91, which is a 24.66% increase over the same quarter last year. Quarterly revenue is expected to reach $10.79 billion, up 25.8% from the same period last year, according to the most current consensus forecast.

Novo Nordisk Analysts Revise Estimates Upward: Stock Price Performance to Follow?

Investors should also monitor any recent changes made to analyst projections for Novo Nordisk. These recent changes typically indicate how the near-term company trends are evolving. Positive estimate revisions therefore represent analyst optimism regarding the business and profitability of the company. These estimated changes are directly correlated with future stock price performance, according to empirical studies.

However, investors should also take note of Novo Nordisk’s current Forward P/E ratio of 42.5, since valuation plays a significant role. This indicates a premium over the 16.05. average forward P/E for the industry. It is also important to note that NVO‘s PEG ratio is 1.44 at the moment. Similar to the commonly used P/E ratio, the PEG ratio takes into consideration the anticipated increase in earnings for the company. As of yesterday’s closure, the industry average PEG ratio for large-cap pharmaceuticals was 1.69.

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