Morgan Stanley slashes price target on Novo Nordisk A/S [NVO] – find out why.

Novo Nordisk A/S [NYSE: NVO] jumped around 3.45 points on Wednesday, while shares priced at $110.02 at the close of the session, up 3.24%. The company report on August 22, 2022 that Novo Nordisk A/S – Share repurchase programme.


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Bagsværd, Denmark, 22 August 2022 – On 3 August 2022, Novo Nordisk initiated a share repurchase programme in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the “Safe Harbour Rules”). This programme is part of the overall share repurchase programme of up to DKK 24 billion to be executed during a 12-month period beginning 2 February 2022.

Under the programme initiated 3 August 2022, Novo Nordisk will repurchase B shares for an amount up to DKK 4.4 billion in the period from 4 August 2022 to 31 October 2022.

Novo Nordisk A/S stock is now -1.77% down from its year-to-date (YTD) trading value. NVO Stock saw the intraday high of $110.37 and lowest of $107.52 per share. The company’s 52-week high price is 122.16, which means current price is +20.23% above from all time high which was touched on 04/07/22.

Compared to the average trading volume of 1.50M shares, NVO reached a trading volume of 2553180 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Novo Nordisk A/S [NVO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVO shares is $128.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVO stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Morgan Stanley have made an estimate for Novo Nordisk A/S shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 15, 2022. The new note on the price target was released on June 28, 2022, representing the official price target for Novo Nordisk A/S stock.

The Average True Range (ATR) for Novo Nordisk A/S is set at 3.01, with the Price to Sales ratio for NVO stock in the period of the last 12 months amounting to 8.90. The Price to Book ratio for the last quarter was 24.72, with the Price to Cash per share for the same quarter was set at 2.44. Price to Free Cash Flow for NVO in the course of the last twelve months was 39.84 with Quick ratio for the last quarter at 0.70.

How has NVO stock performed recently?

Novo Nordisk A/S [NVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.97. With this latest performance, NVO shares dropped by -5.82% in over the last four-week period, additionally plugging by 12.63% over the last 6 months – not to mention a rise of 6.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVO stock in for the last two-week period is set at 53.68, with the RSI for the last a single of trading hit 58.25, and the three-weeks RSI is set at 51.81 for Novo Nordisk A/S [NVO]. The present Moving Average for the last 50 days of trading for this stock 109.56, while it was recorded at 106.29 for the last single week of trading, and 108.23 for the last 200 days.

Novo Nordisk A/S [NVO]: Deeper insight into the fundamentals

Novo Nordisk A/S’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.90.

Earnings analysis for Novo Nordisk A/S [NVO]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Novo Nordisk A/S go to 1.99%.

Insider trade positions for Novo Nordisk A/S [NVO]

There are presently around $16,514 million, or 8.70% of NVO stock, in the hands of institutional investors. The top three institutional holders of NVO stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 17,529,671, which is approximately -4.647% of the company’s market cap and around 26.40% of the total institutional ownership; FISHER ASSET MANAGEMENT, LLC, holding 14,319,532 shares of the stock with an approximate value of $1.58 billion in NVO stocks shares; and JENNISON ASSOCIATES LLC, currently with $1.16 billion in NVO stock with ownership of nearly 90.272% of the company’s market capitalization.

407 institutional holders increased their position in Novo Nordisk A/S [NYSE:NVO] by around 21,828,857 shares. Additionally, 369 investors decreased positions by around 9,323,398 shares, while 205 investors held positions by with 118,948,199 shares. The mentioned changes placed institutional holdings at 150,100,454 shares, according to the latest SEC report filing. NVO stock had 90 new institutional investments in for a total of 1,994,652 shares, while 51 institutional investors sold positions of 317,242 shares during the same period.

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