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Novo Nordisk A/S, (NVO) a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. 
It operates in two segments, Diabetes and Obesity care, and Rare Disease.
The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, glucagon, needles, and other chronic diseases.
The Rare Disease segment offers products in the areas of haemophilia, blood disorders, endocrine disorders, growth disorders, and hormone replacement therapy.
The company has a collaboration agreement with Gilead Sciences, Inc.; and research collaboration with Novo Nordisk to discover cell-specific carriers of nucleic acid therapeutics.
Shares have formed a bullish "double bottom" formation following the company's latest quarterly report. On November 2nd, NVO reported earnings of $0.73 per share on revenue of $8.58 billion for the third quarter ended September 2023. The consensus earnings estimate was $0.69 per share on revenue of $7.91 billion. The company beat consensus estimates by 5.80% while revenue grew 38.94% on a year-over-year basis.
Higher share prices are expected.
Entry Point: $101.00
Stop Loss: $96.00
Trading Range: $56.465 to $104.00
Target Price: $111.00
