Novo Nordisk A/S [NYSE: NVO] gained 2.52% or 4.12 points to close at $167.64 with a heavy trading volume of 3517640 shares. The company report on April 13, 2023 that Novo Nordisk raises sales and operating profit outlook for 2023.
Bagsværd, Denmark, 13 April 2023 – Novo Nordisk today announced the sales and operating profit growth at constant exchange rates (CER) for the first three months of 2023 and that the full-year sales and operating profit outlook at CER has been raised. .
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In the first three months of 2023, Novo Nordisk’s sales increased by 25% and operating profit increased by 28%, both at CER. Wholesaler inventory movements in the US positively impacted sales growth.
It opened the trading session at $166.49, the shares rose to $167.65 and dropped to $164.43, the range by which the price of stock traded the whole day. The daily chart for NVO points out that the company has recorded 60.59% gains over the past six months. However, it is still -76.43% lower than its most recent low trading price.
If we look at the average trading volume of 1.40M shares, NVO reached to a volume of 3517640 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $151.93 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 1.70. 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 2.92, with the Price to Sales ratio for NVO stock in the period of the last 12 months amounting to 11.19. The Price to Book ratio for the last quarter was 31.22, with the Price to Cash per share for the same quarter was set at 1.99. Price to Free Cash Flow for NVO in the course of the last twelve months was 47.80 with Quick ratio for the last quarter at 0.70.
Trading performance analysis for NVO stock
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 6.17. With this latest performance, NVO shares gained by 17.27% in over the last four-week period, additionally plugging by 60.59% over the last 6 months – not to mention a rise of 38.60% 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 80.47, with the RSI for the last a single of trading hit 85.06, and the three-weeks RSI is set at 76.58 for Novo Nordisk A/S [NVO]. The present Moving Average for the last 50 days of trading for this stock 146.41, while it was recorded at 161.56 for the last single week of trading, and 123.25 for the last 200 days.
Novo Nordisk A/S [NVO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Novo Nordisk A/S [NVO] shares currently have an operating margin of +42.06 and a Gross Margin at +82.50. Novo Nordisk A/S’s Net Margin is presently recorded at +31.38.
Return on Total Capital for NVO is now 72.02, given the latest momentum, and Return on Invested Capital for the company is 57.99. Return on Equity for this stock inclined to 72.00, with Return on Assets sitting at 25.48. When it comes to the capital structure of this company, Novo Nordisk A/S [NVO] has a Total Debt to Total Equity ratio set at 30.88. Additionally, NVO Total Debt to Total Capital is recorded at 23.60, with Total Debt to Total Assets ending up at 10.69. Long-Term Debt to Equity for the company is recorded at 29.13, with the Long-Term Debt to Total Capital now at 22.25.
Reflecting on the efficiency of the workforce at the company, Novo Nordisk A/S [NVO] managed to generate an average of $1,020,812 per employee. Receivables Turnover for the company is 3.79 with a Total Asset Turnover recorded at a value of 0.81.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.
Novo Nordisk A/S [NVO]: An earnings per share (EPS) analysis
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 2.80%.
An analysis of insider ownership at Novo Nordisk A/S [NVO]
There are presently around $23,615 million, or 8.40% of NVO stock, in the hands of institutional investors. The top three institutional holders of NVO stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 12,604,288, which is approximately -17.667% of the company’s market cap and around 26.40% of the total institutional ownership; JENNISON ASSOCIATES LLC, holding 11,454,782 shares of the stock with an approximate value of $1.87 billion in NVO stocks shares; and FISHER ASSET MANAGEMENT, LLC, currently with $1.48 billion in NVO stock with ownership of nearly -3.288% of the company’s market capitalization.
Positions in Novo Nordisk A/S stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 492 institutional holders increased their position in Novo Nordisk A/S [NYSE:NVO] by around 15,322,074 shares. Additionally, 420 investors decreased positions by around 8,464,046 shares, while 198 investors held positions by with 120,632,792 shares. The mentioned changes placed institutional holdings at 144,418,912 shares, according to the latest SEC report filing. NVO stock had 197 new institutional investments in for a total of 3,773,814 shares, while 53 institutional investors sold positions of 768,582 shares during the same period.