Has NVO been a good buy before earnings?

29 July 2024, 10:19 AM

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By Dmitry Pargamanik

NVO Shares Could Increase Ahead of Earnings

  • 9 out of the last 12 times, NVO stock had a run up before earnings
  • Pre-Earnings Run Up Averaged 2.5% Gains
NVO is scheduled to report earnings on 7-Aug-2024. The last time Novo Nordisk A/S reported earnings on May 02, 2024, the stock dropped by -4.0% to close at $124.02. At its current price of $129.00, NVO post earnings drift is +4.0%. Typically, traders tended to bid up NVO shares (heading into earnings) prior to its scheduled release.

NVO Historical Pre-Earnings Run Up

As you can see from the table below, the data displays the percentage moves NVO had for the last 12 quarters around earnings. The 1 week run up into earnings is notable as it shows that the stock increased 75% of the time for an average gain of 2.5%. That was actually a better bullish play than holding NVO through earnings that saw a 1.9% gain.

NVO historical stock price movement before earnings

Go to NVO Historical Price Movements Around Earnings page



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