Novo Nordisk (NVO) ended the recent trading session at $84.62, demonstrating a -1.9% swing from the preceding day's closing price. This change lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.86%, and the tech-heavy Nasdaq lost 0.38%.

Prior to today's trading, shares of the drugmaker had lost 19.35% over the past month. This has lagged the Medical sector's loss of 5.3% and the S&P 500's loss of 2.2% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Novo Nordisk in its upcoming earnings disclosure. On that day, Novo Nordisk is projected to report earnings of $0.85 per share, which would represent year-over-year growth of 19.72%. Meanwhile, our latest consensus estimate is calling for revenue of $11.34 billion, up 19.23% from the prior-year quarter.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Novo Nordisk. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.06% lower. At present, Novo Nordisk boasts a Zacks Rank of #4 (Sell).

Looking at its valuation, Novo Nordisk is holding a Forward P/E ratio of 22.2. This valuation marks a premium compared to its industry's average Forward P/E of 12.75.

We can additionally observe that NVO currently boasts a PEG ratio of 0.92. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Large Cap Pharmaceuticals industry had an average PEG ratio of 1.28.

The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 187, which puts it in the bottom 26% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.