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 01/10/24 at a closing price of $108.67, with 4.72 million shares of worth about $513.32 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 40.45% during that period and on Wednesday the price saw a gain of about 1.61%. Currently the company’s common shares owned by public are about 3.42B shares, out of which, 3.39B shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 28 analysts are covering the NVO stock and their offered price forecasts bring an average price target of $740.97. 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 -1.36% below of average price target set by the analysts, while a dip to estimated low would result in gain of 69.81% for the stock. However, touching the estimated high of $875.00 would mean a gain of 87.58% 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 5.78 million shares of worth totaling $588.17 million. The company recently came selling -0.15 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 3.42 million shares, have now control over 0.10% of the stake in the company. It holds 0.0 shares of worth $348.24 million.
Novo Nordisk ADR (NYSE: NVO) started trading at $107.83, above $0.88 from concluding price of the previous day. However, the stock later moved at a day high price of 108.77, or with a gain of 1.61%. Stock saw a price change of 4.87% in past 5 days and over the past one month there was a price change of 12.45%. Year-to-date (YTD), NVO shares are showing a performance of 5.05% which increased to 58.38% 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 $108.98 during that period. The average intraday trading volume for Novo Nordisk ADR shares is 4.52 million. The stock is currently trading 6.58% above its 20-day simple moving average (SMA20), while that difference is up 7.77% for SMA50 and it goes to 21.11% 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 $3869630.03, 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 1.99% while other institutional holders and individual stake holders have control over 6.69% and — of the stake respectively.
The stock has a current market capitalization of $367.91B and its 3Y-monthly beta is at 0.41. PE ratio of stock for trailing 12 months is 45.16, while it has posted earnings per share of $2.41 in the same period. Its PEG reads 16.13 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 1.71% while standing at 1.46% 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 $0.65 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 48.25% while it is estimated to increase by 21.29% 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 28 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 2.14. Out of those 28 Wall Street analysts, 15 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.
