Novo Nordisk Slips to 98th in Trading Volume as Earnings Loom

On May 6, 2025, Novo Nordisk (NVO) experienced a 4.09% decline, marking its second consecutive day of losses, with a total decrease of 4.25% over the past two days. The trading volume for the day was 7.00 billion, placing it at the 98th position in the daily stock market rankings.

Novo Nordisk is set to release its Q1 earnings on May 7, 2025, with analysts anticipating an EPS of $0.83, up from $0.69 in the previous year. Revenue is projected to reach $9.8 billion, surpassing the $8.8 billion reported in Q1 2024. The company's GLP-1 drug family, including Ozempic and Wegovy, is expected to drive significant revenue growth due to the sustained global demand for weight-loss and diabetes treatments.

Novo Nordisk has been actively repurchasing its shares, spending over $1 billion on buybacks in the previous quarter. The company has indicated that it will continue this trend through aggressive repurchase programs. However, investors are cautious about potential supply constraints and updated 2025 guidance, which could impact the stock's performance.

Despite the positive outlook on Ozempic, analysts are taking a cautious stance on Novo Nordisk stock. The consensus rating from nine analysts is a "Hold," with three rating it a Buy, five as Hold, and one as Sell. The average 12-month price target for NVO is $83.20, suggesting a potential upside of just over 20% from the current price. However, the range of estimates reflects uncertainty around growth potential and risks tied to capacity constraints, pricing, and future competition.