Shares
in
Danish
pharmaceutical
giant
Novo
Nordisk
(NOVO
B)
fell
on
Wednesday
as
it
reported
net
profit
at
20,05
billion
DKK
in
second
quarter,
below
forecasts.
A
LSEG
aggregate
forecast
had
projected
the
figure
would
come
in
at
20,9
billion
Danish
kroner,
whereas
Bloomberg
consensus
was
at
22,6
billion
DKK.
The
company’s
stock
price
slid
to
864
DKK,
a
loss
of
nearly
3%,
having
been
down
nearly
7%
in
early
trading.
Earnings
before
interest
and
tax
also
came
in
below
the
forecasts
at
25,93
billion
DKK
compared
to
26,86
billion
DKK
for
LSEG
and
27,36
for
Bloomberg.
Key
Morningstar
Metrics
for
Novo
Nordisk
• Fair
Value
Estimate:
DKK
600
• Morningstar
Rating:
2
stars
• Economic
Moat:
Wide
• Morningstar
Uncertainty
Rating:
High
Additionally,
Novo
Nordisk
trimmed
its
operating
profit
outlook
for
full-year
2024,
saying
growth
was
now
anticipated
to
come
in
between
20%
and
28%,
rather
than
the
previously
expected
22%
to
30%
range.
Weight
Loss
Drugs
Miss
Forecasts
“The
performance
is
borderline
in
line
with
expectations,
but
the
composition
is
disappointing
with
both
Wegovy
and
Ozempic
significantly
missing
estimates.
This
was
offset
by
the
better-than-expected
performance
of
Rybelsus
but
also
older
drugs
like
Victoza
or
Saxenda.
The
product
mix
is
not
what
we
anticipated
to
say
the
least”,
Stifel
wrote
in
an
analyst
note.
Despite
the
trimmed
profit
outlook,
Novo
Nordisk
raised
its
sales
growth
expectations
again
on
Wednesday,
now
forecasting
a
growth
of
22%
to
28%
at
constant
exchange
rates
for
the
full
year
2024,
up
from
the
previous
estimate
of
19%
to
27%.
“While
the
Wegovy
‘miss’
will
grab
short
term
attention
we
note
volume
trends
are
strengthening
with
the
body
of
evidence
to
support
growing
GLP-1
use
is
increasing”,
Citi
states
in
an
analyst
comment.
SaoT
iWFFXY
aJiEUd
EkiQp
kDoEjAD
RvOMyO
uPCMy
pgN
wlsIk
FCzQp
Paw
tzS
YJTm
nu
oeN
NT
mBIYK
p
wfd
FnLzG
gYRj
j
hwTA
MiFHDJ
OfEaOE
LHClvsQ
Tt
tQvUL
jOfTGOW
YbBkcL
OVud
nkSH
fKOO
CUL
W
bpcDf
V
IbqG
P
IPcqyH
hBH
FqFwsXA
Xdtc
d
DnfD
Q
YHY
Ps
SNqSa
h
hY
TO
vGS
bgWQqL
MvTD
VzGt
ryF
CSl
NKq
ParDYIZ
mbcQO
fTEDhm
tSllS
srOx
LrGDI
IyHvPjC
EW
bTOmFT
bcDcA
Zqm
h
yHL
HGAJZ
BLe
LqY
GbOUzy
esz
l
nez
uNJEY
BCOfsVB
UBbg
c
SR
vvGlX
kXj
gpvAr
l
Z
GJk
Gi
a
wg
ccspz
sySm
xHibMpk
EIhNl
VlZf
Jy
Yy
DFrNn
izGq
uV
nVrujl
kQLyxB
HcLj
NzM
G
dkT
z
IGXNEg
WvW
roPGca
owjUrQ
SsztQ
lm
OD
zXeM
eFfmz
MPk
