Why Novo Nordisk A/S Shares Are Shooting Higher Today

Novo Nordisk A/S NVO shares are trading higher by 7.57% to $114.49 after the company reported third-quarter EPS and sales results were higher year-over-year. The company also raised FY22 operating profit growth guidance.

What Happened?

Novo Nordisk reported quarterly earnings of DKK6.34 per share. The company reported DKK45.57 billion in sales this quarter. This is a 28% increase over sales of DKK35.62 billion in the same period last year.

For the 2022 outlook, the company says sales growth is now expected to be 14-17% at CER and operating profit growth is now expected to be 13-16% at CER.

Sales and operating profit growth reported in Danish kroner are now expected to be 10 and 15 percentage points higher than at CER, respectively.

See Also: What's Going On With Tesla Stock Today

According to data from Benzinga Pro, Novo Nordisk A/S has a 52-week high of $122.16 and a 52-week low of $91.51.