NVO: With Obesity Drug Demand Surging, Is Novo Nordisk a Buy? - StockNews
Novo Nordisk A/S (NVO) reported Q2 2024 net sales of DKK133.41 billion, up 23.9% YoY, and raised full-year guidance. Analysts project 31.1% YoY growth in Q3 revenue to $10.96 billion, with EPS expected to climb 22.3% to $0.87. NVO's sales in Diabetes and Obesity care increased 26% to DKK125 billion, driven by GLP-1 sales and Obesity care growth. The company completed phase 3 FRONTIER 2 trial with Mim8 and received a positive CHMP opinion for Wegovy® label update. NVO raised its 2024 sales growth outlook to 22-28% and operating profit growth to 20-28%. Shares surged 30.1% over the past year.
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Novo Nordisk A/S (NVO) reported Q2 2024 net sales of DKK133.41 billion, up 23.9% YoY, and raised full-year guidance. Analysts project 31.1% YoY growth in Q3 revenue to $10.96 billion, with EPS expected to climb 22.3% to $0.87. NVO's sales in Diabetes and Obesity care increased 26% to DKK125 billion, driven by GLP-1 sales and Obesity care growth. The company completed phase 3 FRONTIER 2 trial with Mim8 and received a positive CHMP opinion for Wegovy® label update. NVO raised its 2024 sales growth outlook to 22-28% and operating profit growth to 20-28%. Shares surged 30.1% over the past year.