Alert: Positive Investment/Fundamental Signals (12/4/23)-Novo Nordisk A/S (NYSE: NVO)

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Novo Nordisk A/S (NYSE: NVO) has benefited from notable positive changes in investment behavior: the stock’s recent price rise disrupted its longer term downtrend.

Recent important positive changes in fundamentals have benefitted Novo Nordisk A/S (NYSE: NVO): the consensus estimate for December, 2023 increased significantly, significant quarterly sales acceleration occurred, and the consensus estimate for December, 2024 increased significantly.

In light of these very positive signals we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.

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Current PriceTarget Research Rating

With future capital returns forecasted to be above the cost of capital, NVO is expected to continue to be a major Value Builder.

Novo Nordisk A/S has a current Value Trend Rating of B (Positive). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Novo Nordisk A/S has a slightly negative Appreciation Score of 40 but a very high Power Rating of 89, leading to the Positive Value Trend Rating.

Recent Price Action

Novo Nordisk A/S (NYSE: NVO) stock closed at $100.92 on 12/4/23 after a modest gain of 0.5%. However, unusually low trading volume at 63% of normal accompanied the advance. The stock has been exceptionally strong relative to the market over the last nine months but has declined -4.3% during the last week.

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