The stock of Novo Nordisk A S (ADR) (NYSE:NVO) hit a new 52-week low and has $39.00 target or 6.00% below today’s $41.49 share price. The 8 months bearish chart indicates high risk for the $80.45 billion company. The 1-year low was reported on Sep, 30 by Barchart.com. If the $39.00 price target is reached, the company will be worth $4.83B less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.55 million shares traded hands. Novo Nordisk A S (ADR) (NYSE:NVO) has declined 19.58% since February 26, 2016 and is downtrending. It has underperformed by 30.01% the S&P500.
Analysts await Novo Nordisk A S (ADR) (NYSE:NVO) to report earnings on November, 3. They expect $0.56 earnings per share, up 14.29% or $0.07 from last year’s $0.49 per share. NVO’s profit will be $1.09B for 18.52 P/E if the $0.56 EPS becomes a reality. After $0.60 actual earnings per share reported by Novo Nordisk A S (ADR) for the previous quarter, Wall Street now forecasts -6.67% negative EPS growth.
Novo Nordisk A S (ADR) (NYSE:NVO) Ratings Coverage
Out of 10 analysts covering Novo Nordisk (ADR) (NYSE:NVO), 3 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 30% are positive. Novo Nordisk (ADR) has been the topic of 10 analyst reports since August 28, 2015 according to StockzIntelligence Inc. The rating was downgraded by Morgan Stanley to “Equal-Weight” on Thursday, September 1. Piper Jaffray initiated the shares of NVO in a report on Friday, September 23 with “Neutral” rating. Leerink Swann initiated the shares of NVO in a report on Friday, August 28 with “Market Perform” rating. The firm has “Strong Buy” rating given on Monday, October 19 by Jyske Bank. The firm has “Outperform” rating given on Tuesday, September 13 by BNP Paribas. The firm has “Hold” rating given on Friday, August 28 by Zacks. On Monday, February 8 the stock rating was downgraded by UBS to “Sell”. JP Morgan downgraded Novo Nordisk A S (ADR) (NYSE:NVO) on Friday, September 9 to “Neutral” rating. The rating was upgraded by Goldman Sachs on Monday, February 15 to “Conviction Buy”. The firm has “Hold” rating given on Wednesday, August 31 by HSBC.
According to Zacks Investment Research, “Novo Nordisk is a world leader in insulin and diabetes care and also manufactures and markets a variety of other pharmaceutical products. Furthermore the company is the world’s largest producer of industrial enzyme products. The company believes that everyone must care for the environment and our natural resources.”
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