Analysts Anticipate Novo Nordisk A/S (NVO) Will Announce Earnings of $0.56 Per Share
Analysts forecast that Novo Nordisk A/S (NYSE:NVO) will report earnings of $0.56 per share for the current quarter, Zacks reports. Two analysts have made estimates for Novo Nordisk A/S’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.60. Novo Nordisk A/S reported earnings per share of $0.60 in the same quarter last year, which indicates a negative year-over-year growth rate of 6.7%. The firm is scheduled to announce its next earnings report before the market opens on Wednesday, August 9th.
On average, analysts expect that Novo Nordisk A/S will report full-year earnings of $2.36 per share for the current fiscal year, with EPS estimates ranging from $2.31 to $2.43. For the next financial year, analysts forecast that the firm will post earnings of $2.51 per share, with EPS estimates ranging from $2.34 to $2.67. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Novo Nordisk A/S.
Several equities research analysts recently issued reports on NVO shares. Zacks Investment Research downgraded Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research note on Wednesday, April 19th. BidaskClub downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. Finally, TheStreet raised Novo Nordisk A/S from a “c+” rating to a “b-” rating in a research note on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $53.00.
Shares of Novo Nordisk A/S (NVO) traded up 8.31% during midday trading on Wednesday, hitting $44.57. 3,637,672 shares of the company were exchanged. The stock has a market capitalization of $111.24 billion, a price-to-earnings ratio of 18.33 and a beta of 0.63. Novo Nordisk A/S has a 52-week low of $30.89 and a 52-week high of $50.30. The company has a 50-day moving average price of $42.86 and a 200-day moving average price of $38.45.
Several large investors have recently bought and sold shares of NVO. Renaissance Technologies LLC increased its stake in Novo Nordisk A/S by 17.7% in the first quarter. Renaissance Technologies LLC now owns 16,409,200 shares of the company’s stock worth $562,507,000 after buying an additional 2,463,300 shares during the period. Bank of America Corp DE increased its stake in Novo Nordisk A/S by 3.2% in the first quarter. Bank of America Corp DE now owns 12,102,582 shares of the company’s stock worth $414,876,000 after buying an additional 380,536 shares during the period. Fisher Asset Management LLC increased its stake in Novo Nordisk A/S by 12.9% in the second quarter. Fisher Asset Management LLC now owns 11,690,997 shares of the company’s stock worth $501,427,000 after buying an additional 1,331,992 shares during the period. Folketrygdfondet increased its stake in Novo Nordisk A/S by 13.2% in the second quarter. Folketrygdfondet now owns 6,914,192 shares of the company’s stock worth $296,550,000 after buying an additional 803,608 shares during the period. Finally, State Street Corp increased its stake in Novo Nordisk A/S by 64,406.4% in the first quarter. State Street Corp now owns 5,593,351 shares of the company’s stock worth $191,740,000 after buying an additional 5,584,680 shares during the period. 6.40% of the stock is owned by institutional investors.
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About Novo Nordisk A/S
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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