Novo Nordisk A/S (CPH:NOVO B) Just Released Its Third-Quarter Earnings: Here's What Analysts Think

Shareholders might have noticed that Novo Nordisk A/S (CPH:NOVO B) filed its third-quarter result this time last week. The early response was not positive, with shares down 3.0% to kr.746 in the past week. Novo Nordisk reported kr.71b in revenue, roughly in line with analyst forecasts, although statutory earnings per share (EPS) of kr.6.12 beat expectations, being 2.3% higher than what the analysts expected. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.

View our latest analysis for Novo Nordisk

Taking into account the latest results, the consensus forecast from Novo Nordisk's 23 analysts is for revenues of kr.343.4b in 2025. This reflects a sizeable 27% improvement in revenue compared to the last 12 months. Statutory earnings per share are predicted to leap 33% to kr.28.39. In the lead-up to this report, the analysts had been modelling revenues of kr.345.1b and earnings per share (EPS) of kr.28.63 in 2025. The consensus analysts don't seem to have seen anything in these results that would have changed their view on the business, given there's been no major change to their estimates.

It will come as no surprise then, to learn that the consensus price target is largely unchanged at kr.939. It could also be instructive to look at the range of analyst estimates, to evaluate how different the outlier opinions are from the mean. The most optimistic Novo Nordisk analyst has a price target of kr.1,150 per share, while the most pessimistic values it at kr.560. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.

Looking at the bigger picture now, one of the ways we can make sense of these forecasts is to see how they measure up against both past performance and industry growth estimates. The period to the end of 2025 brings more of the same, according to the analysts, with revenue forecast to display 21% growth on an annualised basis. That is in line with its 18% annual growth over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to see their revenues grow 7.3% per year. So although Novo Nordisk is expected to maintain its revenue growth rate, it's definitely expected to grow faster than the wider industry.

The Bottom Line

The most important thing to take away is that there's been no major change in sentiment, with the analysts reconfirming that the business is performing in line with their previous earnings per share estimates. Happily, there were no major changes to revenue forecasts, with the business still expected to grow faster than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates.

Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. At Simply Wall St, we have a full range of analyst estimates for Novo Nordisk going out to 2026, and you can see them free on our platform here..

You should always think about risks though. Case in point, we've spotted 2 warning signs for Novo Nordisk you should be aware of, and 1 of them is concerning.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.