Novo Nordisk A/S Stock Rating Reaffirmed by Zacks (NVO)
Novo Nordisk A/S (NYSE:NVO)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Tuesday. They currently have a $47.00 price objective on the stock. Zacks‘s target price would indicate a potential upside of 5.90% from the company’s current price.
Zacks’ analyst wrote, “Novo Nordisk reported second-quarter 2014 earnings of $0.48 per ADR, higher than the year-ago earnings of 44 cents. Although revenues increased 6% year over year to of $3.9 billion driven by solid sales of Levemir and Victoza, loss due to Medicare facilities and rebates in the U.S. negatively impacted revenue growth. The recent entry of Mylan’s generic version of Prandin has also affected sales. We are pleased with the progress of the cardiovascular outcomes study on Tresiba which is progressing ahead of plans. The company continues to expect sales to grow in the range of 7%-10%. Therefore, we maintain a Neutral recommendation.”
Novo Nordisk A/S (NYSE:NVO) traded down 1.08% during mid-day trading on Tuesday, hitting $43.90. The stock had a trading volume of 1,197,993 shares. Novo Nordisk A/S has a 52 week low of $32.20 and a 52 week high of $48.42. The stock has a 50-day moving average of $45.68 and a 200-day moving average of $44.3. The company has a market cap of $115.4 billion and a P/E ratio of 25.42.
Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by $2.12. The company had revenue of $21.63 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the prior year, the company posted $12.45 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Novo Nordisk A/S will post $1.82 earnings per share for the current fiscal year.
Novo Nordisk A/S is a healthcare company. The Company is engaged in the discovery, development, manufacturing and marketing of pharmaceutical products.
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