Morgan Stanley lifts Novo Nordisk ADR [NVO] price estimate. Who else is bullish?

Novo Nordisk ADR [NYSE: NVO] stock went on a downward path that fall over -0.85% on Tuesday, amounting to a one-week price decrease of less than -2.01%. The company report on April 2, 2024 at 6:56 AM that Novo Nordisk A/S – share repurchase programme.

Bagsværd, Denmark, 2 April 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 2024.

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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.

Over the last 12 months, NVO stock rose by 59.98%. The one-year Novo Nordisk ADR stock forecast points to a potential upside of 4.2. The average equity rating for NVO stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $427.87 billion, with 3.38 billion shares outstanding and 3.38 billion shares in the current float. Compared to the average trading volume of 5.20M shares, NVO stock reached a trading volume of 4319670 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 $132.00 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 2.00. 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 2.85, with the Price to Sales ratio for NVO stock in the period of the last 12 months amounting to 12.70. The Price to Book ratio for the last quarter was 27.10, 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 35.48 with Quick ratio for the last quarter at 0.64.

NVO Stock Performance Analysis:

Novo Nordisk ADR [NVO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.01. With this latest performance, NVO shares gained by 1.80% in over the last four-week period, additionally plugging by 39.06% over the last 6 months – not to mention a rise of 59.98% 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 47.74, with the RSI for the last a single of trading hit 39.29, and the three-weeks RSI is set at 52.25 for Novo Nordisk ADR [NVO]. The present Moving Average for the last 50 days of trading for this stock 122.65, while it was recorded at 127.97 for the last single week of trading, and 100.86 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 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NVO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NVO stock with ownership which is approximately 5.8386%.