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 12/28/23 at a closing price of $103.47, with 2.34 million shares of worth about $242.12 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 31.78% during that period and on Thursday the price saw a loss of about -0.20%. Currently the company’s common shares owned by public are about 3.42B shares, out of which, 3.39B shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 27 analysts are covering the NVO stock and their offered price forecasts bring an average price target of $732.82. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $875.00 and could fall to a lowest price of $360.00. The stock’s current price level is 1.85% above of average price target set by the analysts, while a rise to estimated low would result in gain of 71.26% for the stock. However, touching the estimated high of $875.00 would mean a gain of 88.17% for the stock.
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 3.3 million shares, have now control over 0.10% of the stake in the company. It holds 0.31 million shares of worth $336.17 million.
Novo Nordisk ADR (NYSE: NVO) started trading at $104.55, above $0.87 from concluding price of the previous day. However, the stock later moved at a day high price of 104.99, or with a loss of -0.20%. Stock saw a price change of 2.13% in past 5 days and over the past one month there was a price change of 2.01%. Year-to-date (YTD), NVO shares are showing a performance of 52.90% which increased to 55.30% 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 4.59 million. The stock is currently trading 3.70% above its 20-day simple moving average (SMA20), while that difference is up 3.78% for SMA50 and it goes to 17.04% 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 $3684463.23, 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 8.88% of that. Holding of mutual funds in the company is about 1.98% while other institutional holders and individual stake holders have control over 6.72% and — of the stake respectively.
The stock has a current market capitalization of $350.31B and its 3Y-monthly beta is at 0.40. PE ratio of stock for trailing 12 months is 43.00, while it has posted earnings per share of $2.41 in the same period. Its PEG reads 15.36 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 1.09% while standing at 1.39% over the month.
Analysts are in expectations that Novo Nordisk ADR (NVO) stock would likely to be making an EPS of $0.66 in the current quarter, while forecast for next quarter EPS is $0.83 and it is $3.25 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.65 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 47.57% 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.
Analysts at 27 brokerage firms have issued recommendations for the Novo Nordisk ADR (NVO)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.19. Out of those 27 Wall Street analysts, 14 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 3 analyst recommended the stock as “Sell”.
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.
