Does Novo Nordisk A/S (NVO) Have More Gas After Achieving 52-Week High?

January 19, 2018 - By Marguerite Chambers

The stock of Novo Nordisk A/S (NYSE:NVO) hit a new 52-week high and has $59.26 target or 3.00 % above today’s $57.53 share price. The 9 months bullish chart indicates low risk for the $138.49 billion company. The 1-year high was reported on Jan, 19 by Barchart.com. If the $59.26 price target is reached, the company will be worth $4.15 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.80% or $1.02 during the last trading session, reaching $57.53. About 785,573 shares traded. Novo Nordisk A/S (NYSE:NVO) has declined 23.93% since January 19, 2017 and is downtrending. It has underperformed by 40.63% the S&P500.

Analysts await Novo Nordisk A/S (NYSE:NVO) to report earnings on February, 1. They expect $0.56 EPS, up 12.00 % or $0.06 from last year’s $0.5 per share. NVO’s profit will be $1.35 billion for 25.68 P/E if the $0.56 EPS becomes a reality. After $0.62 actual EPS reported by Novo Nordisk A/S for the previous quarter, Wall Street now forecasts -9.68 % negative EPS growth.

Novo Nordisk A/S (NYSE:NVO) Ratings Coverage

Among 15 analysts covering Novo Nordisk (ADR) (NYSE:NVO), 7 have Buy rating, 0 Sell and 8 Hold. Therefore 47% are positive. Novo Nordisk (ADR) had 21 analyst reports since August 28, 2015 according to SRatingsIntel. On Tuesday, September 13 the stock rating was upgraded by BNP Paribas to “Outperform”. The stock of Novo Nordisk A/S (NYSE:NVO) earned “Hold” rating by J.P. Morgan on Friday, December 29. The firm earned “Hold” rating on Wednesday, August 31 by HSBC. UBS downgraded the shares of NVO in report on Monday, February 8 to “Sell” rating. The company was upgraded on Wednesday, September 6 by Bank of America. The stock of Novo Nordisk A/S (NYSE:NVO) earned “Strong Buy” rating by Jyske Bank on Monday, October 19. The stock has “Overweight” rating by Morgan Stanley on Friday, December 1. The firm earned “Neutral” rating on Friday, September 9 by JP Morgan. The firm has “Underperform” rating by Bank of America given on Friday, October 28. The rating was upgraded by Goldman Sachs on Monday, February 15 to “Conviction Buy”.

More notable recent Novo Nordisk A/S (NYSE:NVO) news were published by: Benzinga.com which released: “Eli Lilly’s Risks Could Be Underappreciated, Goldman Sachs Says In Downgrade” on January 16, 2018, also Fool.com with their article: “Why Novo Nordisk A/S (ADR) Jumped 10.6% In May” published on June 10, 2017, Investorplace.com published: “Scoop Up Teva Pharmaceutical Industries Ltd (ADR) on Every Dip” on January 18, 2018. More interesting news about Novo Nordisk A/S (NYSE:NVO) were released by: Fool.com and their article: “Here’s Why Novo Nordisk A/S Gained 12% in August” published on September 06, 2017 as well as Investorplace.com‘s news article titled: “6 of the Strangest ETFs You Can Buy” with publication date: January 19, 2018.

Novo Nordisk A/S, a healthcare company, engages in the discovery, development, manufacture, and marketing of pharmaceutical products worldwide. The company has market cap of $138.49 billion. It operates in two divisions, Diabetes and Obesity Care, and Biopharmaceuticals. It has a 22.57 P/E ratio. The Diabetes and Obesity Care segment provides insulins, GLP-1 analog, and oral anti-diabetic drugs, as well as other protein related products comprising glucagon, protein related delivery systems, and needles.

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