Novo Nordisk Stock Slips Despite Broader Gains; Q4 Earnings Growth Expected But Valuation Concerns Remain
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Novo Nordisk (NVO) stock dropped 1.38% despite broader market gains. It trails the S&P 500's monthly gain of 2.7%.
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NVO expected to report strong 23.44% annual earnings growth on February 1. Full-year forecasts predict 24.44% earnings growth.
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Recent positive estimate revisions signal analyst optimism and potential stock price growth. NVO has a Zacks Rank of #3 (Hold).
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NVO stock trades at a premium to industry peers based on Forward P/E ratio of 39.62 versus an industry average of 14.4.
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NVO falls in the bottom 25% ranked Zacks Large Cap Pharmaceuticals industry group (ranking of 190 out of 250+).