Amid range-bound trade yesterday, here are the 2 biggest losing mega health care stocks

Published: January 26 2023, 03:07 GMT+0

Amid range-bound trade yesterday, here are the 2 biggest losing mega health care stocks

Markets closed sideways but Thermo Fisher Scientific and Novo Nordisk drop and make it on this unflattering list of yesterday's losing mega cap health care stocks.

Following yesterday's session, markets did not have a clear cut direction — Nasdaq lost 0.18% and ended the session at 11,300. S&P 500 closed 4,016.22 after a stable day.

This limbo state is reflected by market data published as data from United States concerning Crude Oil Inventories was released yesterday at 15:30 UTC. Newly published figures emphasized continued decline from last month's figure of 8.41 million to 533,000 this month.

While markets traded sideways yesterday, some mega cap health care stocks suffered significant losses. Here is the list of Top Losers from yesterday:

Novo Nordisk | Closed $1 (-0.72%) lower at $138.89

Over the last 3 days, Novo Nordisk has fallen 1.57%. More of the same from yesterday's session: grinding lower but with no clear-cut direction, the Danish multinational pharmaceutical company closed the session at $138.89 after forming a distinct $137.09 – $139.53 range.

Novo Nordisk is scheduled to announce earnings results Wednesday. The consensus Earnings Per Share estimate is 0.8 and the consensus revenue estimate is $6 billion.

Thermo Fisher Scientific | Currently down 0.93% at $575.32

The scientific instrumentation manufacturer is now trading 19.81% above the significant low ($484.71) it slumped to 2 months ago. So far this year, it has been beating the S&P by 0.2%. The scientific instrumentation manufacturer's market cap currently stands at $225.64 billion with an average daily trading volume of 1.70 million shares.

Thermo Fisher Scientific is scheduled to announce earnings results Wednesday. The consensus EPS estimate is 5.19 and the consensus revenue estimate is $10.47 billion.

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