Novo Nordisk ADR [NYSE: NVO] closed the trading session at $124.65. The company report on March 5, 2024 at 4:53 AM that Novo Nordisk A/S: Semaglutide 1.0 mg demonstrates 24% reduction in the risk of kidney disease-related events in people with type 2 diabetes and chronic kidney disease in the FLOW trial.
Bagsværd, Denmark, 5 March 2024 – Novo Nordisk today announced the headline results from the kidney outcomes trial FLOW. The announcement today follows the decision to stop the trial early due to efficacy, which was announced on 10 October 2023, based on a recommendation from an Independent Data Monitoring Committee. The double-blind trial compared injectable semaglutide 1.0 mg with placebo as an adjunct to standard of care for prevention of progression of kidney impairment and risk of kidney and cardiovascular mortality in people with type 2 diabetes and chronic kidney disease (CKD). The trial enrolled 3,533 people with type 2 diabetes and CKD.
The trial achieved its primary endpoint by demonstrating a statistically significant and superior reduction in kidney disease progression, major adverse cardiovascular events (MACE) and death of 24% for people treated with semaglutide 1.0 mg compared to placebo1. The combined primary endpoint included five components measuring the progression of CKD and the risk of kidney and cardiovascular mortality. Both CKD and cardiovascular components of the primary endpoint contributed to the risk reduction. Further, superiority of semaglutide 1 mg vs placebo was confirmed for the confirmatory secondary endpoints.
The stocks have a year to date performance of 20.49 percent and weekly performance of 1.98 percent. The stock has been moved at 31.69 percent over the last six months. The stock has performed 9.63 percent around the most recent 30 days and changed 24.15 percent over the most recent 3-months.
If compared to the average trading volume of 4.60M shares, NVO reached to a volume of 4790279 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $123.28 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 1.97. 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. While these analysts kept the previous recommendation, UBS raised their target price to Neutral. The new note on the price target was released on January 16, 2024, representing the official price target for Novo Nordisk ADR stock. Previously, the target price had yet another raise to $120, while Cantor Fitzgerald analysts kept a Overweight rating on NVO stock.
The Average True Range (ATR) for Novo Nordisk ADR is set at 2.86, with the Price to Sales ratio for NVO stock in the period of the last 12 months amounting to 12.52. The Price to Book ratio for the last quarter was 26.71, 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 34.98 with Quick ratio for the last quarter at 0.64.
NVO stock trade performance evaluation
Novo Nordisk ADR [NVO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.98. With this latest performance, NVO shares gained by 9.63% in over the last four-week period, additionally plugging by 31.69% over the last 6 months – not to mention a rise of 72.05% 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 60.46, with the RSI for the last a single of trading hit 58.24, and the three-weeks RSI is set at 61.64 for Novo Nordisk ADR [NVO]. The present Moving Average for the last 50 days of trading for this stock 113.04, while it was recorded at 123.63 for the last single week of trading, and 96.11 for the last 200 days.
Novo Nordisk ADR [NVO]: An insightful look at the core 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.
Earnings per share (EPS) analysis for Novo Nordisk ADR [NVO] stock
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]: Institutional Ownership
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%.
