10 Jul

Performance of Novo Nordisk Stock in 2Q17

WRITTEN BY Mike Benson

A look at Novo Nordisk

Novo Nordisk (NVO) is a global pharmaceutical company dealing with discovery, development, manufacturing, and commercialization of pharmaceutical products. The business is segregated into two business segments:

  • diabetes and obesity care
  • biopharmaceuticals

Performance of Novo Nordisk Stock in 2Q17

Stock price performance

Novo Nordisk (NVO) stock has risen ~18.6% in 2Q17. It has risen ~16.9% year-to-date as of July 7, 2017.

Analyst recommendations

Wall Street analysts estimate that Novo Nordisk (NV)) stock will fall ~12.5% over the next 12 months. Analyst recommendations show a 12-month target price of $36.70 per share compared to the last price of $41.94 on July 6, 2017.

There are 32 analysts tracking Novo Nordisk stock. Of those, 12 are recommending a “buy,” 13 are recommending a “hold,” and seven are recommending a “sell.” The consensus rating for Novo Nordisk stands at 2.8, which represents a “moderate buy” for value investors.

Analysts’ revenue estimates

Novo Nordisk’s revenues are mainly driven by the strong performance of its diabetes care business.

Wall Street analyst estimates show revenues of 28.5 billion Danish kroner in 2Q17, which is a 3.7% rise compared to 2Q16, and EPS (earnings per share) of 3.8 Danish kroner for the quarter.

To divest the company-specific risks, you can consider the Vanguard FTSE All-World ex-US ETF (VEU), which holds 0.50% of its total assets in Novo Nordisk. VEU also holds 1.2% in Novartis (NVS), 0.50% in AstraZeneca (AZN), and 0.30% in Valeant Pharmaceuticals International (VRX).

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.

172.31.71.127