Jennison Associates LLC has recently announced that it has increased stake in Novo Nordisk ADR (NYSE:NVO) by 0.15%. After grabbing 23.42 million shares, the institutional investor is now in possession of 35609.0 shares of the Healthcare Company. The new investment brought the stake of investor firm to 0.68% having worth around $2.39 billion. Moreover, Fayez Sarofim & Co. increased its share by 1.36 million to have a control over 11.6 million shares. And Fidelity Management & Research Co raised its holdings to 0.86 million shares by acquiring 9.13 million shares or 0.27% of the stake.
Novo Nordisk ADR (NVO) concluded trading on December 20, 2023 at a closing price of $101.31, with 4.78 million shares of worth about $484.63 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 26.62% during that period and On Wednesday the price saw a gain of about 1.32%. Currently the company’s common shares owned by public are about 3.42B shares, out of which, 3.39B shares are available for trading.
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Harbor Capital Appreciation Fund, Washington Mutual Investors Fund, and Bridge Builder Large Cap Growth F are the top 3 mutual funds which are holding stakes in Novo Nordisk ADR Harbor Capital Appreciation Fund is currently holding 5.93 million shares of worth totaling $603.72 million. The company recently came selling -0.14 million shares which brought its stake up to 0.17% of the company’s outstanding shares. Washington Mutual Investors Fund sold 9346.0 shares, after which its hold over company’s outstanding shares shrunk to 0.10%, leaving 3.44 million shares with the mutual fund that have a worth of about $350.8 million. Bridge Builder Large Cap Growth F, after buying 2.99 million shares, have now control over 0.09% of the stake in the company. It holds 0.0 shares of worth $304.2 million.
However, the stock later moved at a day high price of 102.87, or with a gain of 1.32%. Stock saw a price change of 2.44% in past 5 days and over the past one month there was a price change of -2.20%. Year-to-date (YTD), NVO shares are showing a performance of 49.71% which increased to 55.13% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $65.05 but also hit the highest price of $105.69 during that period. The average intraday trading volume for Novo Nordisk ADR shares is 4.67 million. The stock is currently trading 1.39% above its 20-day simple moving average (SMA20), while that difference is up 1.99% for SMA50 and it goes to 15.64% higher than SMA200.
Jennison Associates LLC acquired 23.42 million shares of Novo Nordisk ADR having value of about $2.39 billion. Data submitted at the U.S SEC by Jennison Associates LLC revealed that the firm now holds 35609.0 shares in the company valued at close to $3607547.79, or have control over 0.15% stake in the company. Novo Nordisk ADR (NYSE: NVO) currently have 3.42B outstanding shares and institutions hold larger chunk of about 8.89% of that. Holding of mutual funds in the company is about 1.90% while other institutional holders and individual stake holders have control over 6.80% and — of the stake respectively.
The stock has a current market capitalization of $342.99B and its 3Y-monthly beta is at 0.39. PE ratio of stock for trailing 12 months is 42.10, while it has posted earnings per share of $2.41 in the same period. Its PEG reads 15.04 and has Quick Ratio of 0.65 while making debt-to-equity ratio of 0.29. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NVO, volatility over the week remained 1.41% while standing at 1.49% over the month.
Analysts are in expectations that Novo Nordisk ADR (NVO) stock would likely to be making an EPS of $0.65 in the current quarter, while forecast for next quarter EPS is $0.82 and it is $3.24 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.64 which is $0.66 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.44 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 47.41% while it is estimated to increase by 21.22% in next year. EPS is likely to shrink at an annualized rate of 2.80% for next 5-years, compared to annual growth of 8.17% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Cantor Fitzgerald on December 01, 2023 offering an Overweight rating for the stock and assigned a target price of $120 to it.
