Novo Nordisk ADR [NYSE: NVO] loss -1.14% or -1.52 points to close at $131.37 with a heavy trading volume of 4373146 shares. The company report on March 18, 2024 at 10:18 AM that Novo Nordisk A/S – share repurchase programme.
Bagsværd, Denmark, 18 March 2024 – On 6 February 2024, 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 20 billion to be executed during a 12-month period beginning 6 February 2023.
Under the programme initiated 6 February 2024, Novo Nordisk will repurchase B shares for an amount up to DKK 2.1 billion in the period from 6 February 2024 to 30 April 2024.
The daily chart for NVO points out that the company has recorded 40.80% gains over the past six months.
If we look at the average trading volume of 5.06M shares, NVO reached to a volume of 4373146 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 $131.44 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. 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 3.29, with the Price to Sales ratio for NVO stock in the period of the last 12 months amounting to 13.19. The Price to Book ratio for the last quarter was 28.15, 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 36.86 with Quick ratio for the last quarter at 0.64.
Trading performance analysis for NVO stock
Novo Nordisk ADR [NVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.77. With this latest performance, NVO shares gained by 5.94% in over the last four-week period, additionally plugging by 40.80% over the last 6 months – not to mention a rise of 88.43% 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 58.90, with the RSI for the last a single of trading hit 55.75, and the three-weeks RSI is set at 60.50 for Novo Nordisk ADR [NVO]. The present Moving Average for the last 50 days of trading for this stock 118.76, while it was recorded at 132.94 for the last single week of trading, and 98.64 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%.
