Novo Nordisk ADR [NYSE: NVO] stock went on an upward path that rose over 4.01% on Monday, amounting to a one-week price increase of more than 8.48%. The company report on February 5, 2024 at 6:04 AM that Novo Nordisk to acquire three fill-finish sites from Novo Holdings A/S in connection with the Catalent, Inc. transaction.
Bagsværd, Denmark, 5 February 2024 – Novo Nordisk today announced that the company has agreed to acquire three fill-finish sites from Novo Holdings A/S (Novo Holdings) in connection with a transaction where Novo Holdings has agreed to acquire Catalent, Inc. (Catalent), a global contract development and manufacturing organisation headquartered in Somerset, New Jersey (US). Novo Nordisk and Catalent have a long-standing collaboration.
The acquisition of the filling sites is aligned with Novo Nordisk’s strategy of reaching more people living with diabetes and obesity with current and future treatments. It enables an expansion of the manufacturing capacity at scale and speed while providing future optionality and flexibility for Novo Nordisk’s existing supply network. The acquisition is expected to gradually increase Novo Nordisk’s filling capacity from 2026 and onwards.
Over the last 12 months, NVO stock rose by 78.72%. The one-year Novo Nordisk ADR stock forecast points to a potential downside of -3.32. The average equity rating for NVO stock is currently 2.03, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $400.12 billion, with 3.38 billion shares outstanding and 3.38 billion shares in the current float. Compared to the average trading volume of 4.41M shares, NVO stock reached a trading volume of 8679679 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Novo Nordisk ADR [NVO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVO shares is $114.46 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 2.03. 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 ADR shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 23, 2024.
The Average True Range (ATR) for Novo Nordisk ADR is set at 2.35, with the Price to Sales ratio for NVO stock in the period of the last 12 months amounting to 11.87. The Price to Book ratio for the last quarter was 25.34, with the Price to Cash per share for the same quarter was set at 1.32. Price to Free Cash Flow for NVO in the course of the last twelve months was 33.18 with Quick ratio for the last quarter at 0.64.
NVO Stock Performance Analysis:
Novo Nordisk ADR [NVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.48. With this latest performance, NVO shares gained by 9.88% in over the last four-week period, additionally plugging by 51.03% over the last 6 months – not to mention a rise of 78.72% 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 74.91, with the RSI for the last a single of trading hit 78.79, and the three-weeks RSI is set at 71.27 for Novo Nordisk ADR [NVO]. The present Moving Average for the last 50 days of trading for this stock 104.19, while it was recorded at 114.30 for the last single week of trading, and 92.29 for the last 200 days.
Insight into Novo Nordisk ADR Fundamentals:
Novo Nordisk ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.64 and a Current Ratio set at 0.82.
NVO Stock EPS
With the latest financial reports released by the company, Novo Nordisk ADR posted 0.64/share EPS, while the average EPS was predicted by analysts to be reported at 0.63/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.60%. 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 ADR go to 2.80%.
Novo Nordisk ADR [NVO] Institutonal Ownership Details
The top three institutional holders of NVO stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NVO stock with ownership which is approximately 5.8325%.
