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

Novo Nordisk ADR [NYSE: NVO] gained 2.75% on the last trading session, reaching $123.29 price per share at the time. The company report on February 14, 2024 at 6:59 AM that Novo Nordisk A/S: Trading in Novo Nordisk shares by board members, executives and associated persons.

Bagsværd, Denmark, 14 February 2024 — This company announcement discloses the data of the transaction(s) made in Novo Nordisk shares by the company’s board members, executives and their associated persons in accordance with Article 19 of Regulation No. 596/2014 on market abuse.

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The company’s board members, executives and their associated persons have reported the transactions to Novo Nordisk and have given Novo Nordisk power of attorney on their behalf to publish trading in Novo Nordisk shares by the company’s board members, executives and their associated persons.

If compared to the average trading volume of 4.42M shares, NVO reached a trading volume of 5669243 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 ADR [NVO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVO shares is $117.73 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 2.31, with the Price to Sales ratio for NVO stock in the period of the last 12 months amounting to 12.38. The Price to Book ratio for the last quarter was 26.42, 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 34.60 with Quick ratio for the last quarter at 0.64.

Trading performance analysis for NVO stock

Novo Nordisk ADR [NVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.90. With this latest performance, NVO shares gained by 15.93% in over the last four-week period, additionally plugging by 33.21% over the last 6 months – not to mention a rise of 72.45% 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 76.35, with the RSI for the last a single of trading hit 79.21, and the three-weeks RSI is set at 73.29 for Novo Nordisk ADR [NVO]. The present Moving Average for the last 50 days of trading for this stock 106.62, while it was recorded at 120.68 for the last single week of trading, and 93.55 for the last 200 days.

Novo Nordisk ADR [NVO]: A deeper dive into fundamental analysis

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.

Novo Nordisk ADR [NVO]: An earnings per share (EPS) analysis

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%.

An analysis of Institutional ownership at Novo Nordisk ADR [NVO]

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%.