Why Novo Nordisk A/S (NYSE:NVO) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $57.00 on Novo Nordisk A/S (NYSE:NVO) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $2.29 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Novo Nordisk A/S (NYSE:NVO) stands at 21.44.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Novo Nordisk A/S Common Stock, the PEG ratio for coming 3-5 years is 1.90.

Technical Analysis

The technical analysis highlights that Novo Nordisk A/S Common Stock current is trading $-4.88 points away or -9.63% from its 50-day moving average of $50.68. Further it is trading $-7.74 or -14.45% away its 200-day moving average of $53.54.

The 52-week high of Novo Nordisk A/S (NYSE:NVO) was $59.00 while lowest point recorded in 52-week was $45.36. It implies if stock price makes a movement of over $-13.20, it will record a new 52-week high. In the case of +0.97% drop, it will touch a new 52-week low.

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