Novo Nordisk: shares drop after disappointing results
(CercleFinance.com) - Novo Nordisk shares have fallen by up to 5% on Thursday after the Danish drugmaker posted fairly disappointing 2017 results.
The firm said reported operating profit increased by just 1% to 49 billion Danish kronor (c. 6.6 billion euros), while reported sales were broadly unchanged at 112 billion Danish kronor (+2% in local currencies).
For 2018, sales growth is expected to be 2%-5% measured in local currencies, while operating profit is expected to rise by 1%-5%.
After this publication, analysts at Oddo BHF - which have a "reduce" rating on the share - mentioned a "disappointing" fourth quarter, with guidance for 2018 "clearly under expectations."
The stock was down 5% at 316.6 Danish kronor after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The firm said reported operating profit increased by just 1% to 49 billion Danish kronor (c. 6.6 billion euros), while reported sales were broadly unchanged at 112 billion Danish kronor (+2% in local currencies).
For 2018, sales growth is expected to be 2%-5% measured in local currencies, while operating profit is expected to rise by 1%-5%.
After this publication, analysts at Oddo BHF - which have a "reduce" rating on the share - mentioned a "disappointing" fourth quarter, with guidance for 2018 "clearly under expectations."
The stock was down 5% at 316.6 Danish kronor after the report.
Copyright (c) 2018 CercleFinance.com. All rights reserved.