NVO Stock Summary and Trading Ideas (Novo Nordisk A/S | NYSE:NVO)

With roughly one third of the global branded diabetes treatment market, Novo Nordisk is the leading provider of diabetes-care products in the world. Based in Denmark, the company manufactures and markets a variety of human and modern insulins, injectable diabetes treatments such as GLP-1 therapy, oral antidiabetic agents, and obesity treatments. Novo also has a biopharmaceutical segment (constituting roughly 10% of revenue) that specializes in protein therapies for hemophilia and other disorders.

Novo Nordisk A/S trades on the NYSE stock market under the symbol NVO.

As of April 19, 2024, NVO stock price declined to $122.71 with 4,289,532 million shares trading.

NVO has a beta of 0.57, meaning it tends to be less sensitive to market movements. NVO has a correlation of 0.06 to the broad based SPY ETF.

NVO has a market cap of $547.69 billion. This is considered a Mega Cap stock.

Last quarter Novo Nordisk A/S reported $10 billion in Revenue and $.71 earnings per share. This beat revenue expectation by $684 million and exceeded earnings estimates by $.06.

In the last 3 years, NVO stock traded as high as $138.28 and as low as $36.38.

The top ETF exchange traded funds that NVO belongs to (by Net Assets): AVDE, FVD, NUGO, PPH, DFIC.

NVO has outperformed the market in the last year with a price return of +50.4% while the SPY ETF gained +21.2%. NVO has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +15.6% and -2.5%, respectively, while the SPY returned +3.0% and -4.5%, respectively.

NVO support price is $120.97 and resistance is $124.53 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NVO stock will trade within this expected range on the day.