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 September 27, 2024, NVO stock price declined to $120.76 with 8,346,212 million shares trading.

NVO has a beta of 0.92, meaning it tends to be less sensitive to market movements. NVO has a correlation of 0.20 to the broad based SPY ETF.

NVO has a market cap of $537.97 billion. This is considered a Mega Cap stock.

Last quarter Novo Nordisk A/S reported $10 billion in Revenue and $.65 earnings per share. This fell short of revenue expectation by $-149 million and missed earnings estimates by -$.04.

In the last 3 years, NVO traded as high as $148.15 and as low as $45.76.

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

NVO has underperformed the market in the last year with a price return of +33.3% while the SPY ETF gained +35.8%. NVO has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -16.1% and -11.9%, respectively, while the SPY returned +4.9% and +2.0%, respectively.

NVO support price is $121.85 and resistance is $126.75 (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 shares will trade within this expected range on the day.