Novo Nordisk As Stock Price on May 3, 2024
| NVO Stock | USD 102.63 2.64 2.51% |
If you're considering investing in Novo Stock, it is important to understand the factors that can impact its price. As of today, the current price of Novo Nordisk stands at 102.63, as last reported on the 22nd of November, with the highest price reaching 103.22 and the lowest price hitting 101.51 during the day. Novo Nordisk AS has Sharpe Ratio of -0.23, which conveys that the firm had a -0.23% return per unit of risk over the last 3 months. Novo Nordisk exposes twenty-four different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please verify Novo Nordisk's Risk Adjusted Performance of (0.17), standard deviation of 1.79, and Mean Deviation of 1.35 to check out the risk estimate we provide.
Novo Stock price history is provided at the adjusted basis, taking into account all of the recent filings.
Novo |
Sharpe Ratio = -0.2318
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Estimated Market Risk
| 1.79 actual daily | 15 85% of assets are more volatile |
Expected Return
| -0.41 actual daily | 0 Most of other assets have higher returns |
Risk-Adjusted Return
| -0.23 actual daily | 0 Most of other assets perform better |
Based on monthly moving average Novo Nordisk is not performing at its full potential. However, if added to a well diversified portfolio the total return can be enhanced and market risk can be reduced. You can increase risk-adjusted return of Novo Nordisk by adding Novo Nordisk to a well-diversified portfolio.
Novo Nordisk Valuation on May 3, 2024
It is possible to determine the worth of Novo Nordisk on a given historical date. On May 3, 2024 Novo was worth 122.46 at the beginning of the trading date compared to the closed value of 122.59. We use multiple weighted factors in our valuation methodologies to arrive at the intrinsic value of Novo Nordisk stock. Still, in general, we apply an absolute valuation method to find Novo Nordisk's value based on its fundamental and technical indicators available within our service. As compared to an absolute model, our relative valuation model uses a comparative analysis of Novo Nordisk where we calculate exposure to its market risk and evaluate relevant financial multiples and ratios against Novo Nordisk's related companies.
| Open | High | Low | Close | Volume | |
| 127.46 | 127.46 | 123.36 | 123.55 | 8,487,072 | |
05/03/2024 | 122.46 | 123.31 | 120.84 | 122.59 | 5,932,926 |
| 121.54 | 124.17 | 121.32 | 124.12 | 3,636,591 |
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Novo Nordisk Trading Date Momentum on May 3, 2024
| On May 06 2024 Novo Nordisk AS was traded for 124.12 at the closing time. Highest Novo Nordisk's price during the trading hours was 124.17 and the lowest price during the day was 121.32 . The net volume was 3.6 M. The overall trading history on the 6th of May contributed to the next trading period price boost. The trading delta at closing time to the next next day price was 1.25% . The trading delta at closing time to current price is 6.84% . |
Novo Nordisk AS Fundamentals Correlations and Trends
By evaluating Novo Nordisk's financials over time, investors can gain insight into future company performance. However, you can also analyze the published financial statements to find patterns among Novo Nordisk's main balance sheet or income statement drivers and many other relevant indicators that can statistically be found significantly correlated or uncorrelated. Novo financial account trend analysis is a perfect complement when working with valuation or volatility modules.About Novo Nordisk Stock history
Novo Nordisk investors dedicate a lot of time and effort to gaining insight into how a market's past behavior relates to its future. Access to timely market data for Novo is vital when making an investment decision, and regardless of whether you use fundamental or technical analysis, your return on investment in Novo Nordisk AS will depend on recognizing future opportunities and eliminating past mistakes. Historical data analysis is the study of market behavior over a given time. Recorded market-related data such as price, volatility, and volume can be quantified and studied over a defined period. Through a detailed examination of a market's past behavior, traders and investors can gain perspective on the inner workings of that market. The information obtained throughout analyzing Novo Nordisk stock prices may prove useful in developing a viable investing in Novo Nordisk
Novo Nordisk AS, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. The company was founded in 1923 and is headquartered in Bagsvaerd, Denmark. Novo Nordisk is traded on New York Stock Exchange in the United States.
Novo Nordisk Stock Technical Analysis
Novo Nordisk technical stock analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, stock market cycles, or different charting patterns.
Price Boundaries
Novo Nordisk Period Price Range
Low | November 22, 2024
| High |
0.00 | 0.00 |
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Novo Nordisk November 22, 2024 Market Strength
Market strength indicators help investors to evaluate how Novo Nordisk stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Novo Nordisk shares will generate the highest return on investment. By undertsting and applying Novo Nordisk stock market strength indicators, traders can identify Novo Nordisk AS entry and exit signals to maximize returns
Novo Nordisk Technical and Predictive Indicators
Predictive indicators are helping investors to find signals for Novo Nordisk's price direction in advance. Along with the technical and fundamental analysis of Novo Stock historical price patterns, it is also worthwhile for investors to track various predictive indicators of Novo to make sure they correctly time the market and exploit it's hidden potentials. Even though most predictive indicators are useful for the short-term horizon, it's virtually impossible to predict the unforeseen market. For traders with a short-term horizon, predictive indicators add value when properly applied. Long-term investors, however, may find many predictive indicators less useful.
| Risk Adjusted Performance | (0.17) | |||
| Jensen Alpha | (0.42) | |||
| Total Risk Alpha | (0.66) | |||
| Treynor Ratio | 9.47 |
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Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Novo Nordisk AS. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real. You can also try the Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
Is Pharmaceutical Products space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Novo Nordisk. If investors know Novo will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Novo Nordisk listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
The market value of Novo Nordisk AS is measured differently than its book value, which is the value of Novo that is recorded on the company's balance sheet. Investors also form their own opinion of Novo Nordisk's value that differs from its market value or its book value, called intrinsic value, which is Novo Nordisk's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Novo Nordisk's market value can be influenced by many factors that don't directly affect Novo Nordisk's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Novo Nordisk's value and its price as these two are different measures arrived at by different means. Investors typically determine if Novo Nordisk is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Novo Nordisk's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.