Jennison Associates LLC recently announced the acquisition of new stake in Novo Nordisk ADR (NYSE:NVO). The institutional investor has increased its shareholding in the Healthcare company by 0.15% to 23.42 million shares with purchase of 35609.0 shares. This fresh investment now brings its stake to 0.68% valued currently at $2.42 billion. In addition, Fayez Sarofim & Co. raised its holdings by 1.36 million to 11.6 million shares. And Fidelity Management & Research Co has lifted its position by 10.40% or 0.86 million shares – to 9.13 million shares.
Currently, there are 3.42B common shares owned by the public and among those 3.39B shares have been available to trade.
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The top 3 mutual fund holders in Novo Nordisk ADR are Harbor Capital Appreciation Fund, Washington Mutual Investors Fund, and Bridge Builder Large Cap Growth F. Harbor Capital Appreciation Fund owns 5.78 million shares of the company’s stock, all valued at over $597.47 million. The company sold -0.15 million shares recently to bring their total holdings to about 0.17% of the shares outstanding. Bridge Builder Large Cap Growth F now owns shares totaling to 0.10% of the shares outstanding.
However, the script later moved the day high at 105.49, down -0.11%. The company’s stock has a 5-day price change of -0.92% and 9.43% over the past three months. NVO shares are trading 1.86% year to date (YTD), with the 12-month market performance up to 49.36% higher. It has a 12-month low price of $65.58 and touched a high of $108.98 over the same period. NVO has an average intraday trading volume of 4.06 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.01%, 3.07%, and 15.96% respectively.
Institutional ownership of Novo Nordisk ADR (NYSE: NVO) shares accounts for 8.91% of the company’s 3.42B shares outstanding. Mutual fund holders own 2.03%, while other institutional holders and individual stakeholders account for 6.69% and — respectively.
It has a market capitalization of $356.74B and a beta (3y monthly) value of 0.41. The stock’s trailing 12-month PE ratio is 43.79, while the earnings-per-share (ttm) stands at $2.41. The company has a PEG of 15.64 and a Quick Ratio of 0.65 with the debt-to-equity ratio at 0.29. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.52% over the week and 1.41% over the month.
Analysts forecast that Novo Nordisk ADR (NVO) will achieve an EPS of $0.65 for the current quarter, $0.82 for the next quarter and $3.22 for 2024. The lowest estimate earnings-per-share for the quarter is $0.64 while analysts give the company a high EPS estimate of $0.65. Comparatively, EPS for the current quarter was $0.44 a year ago. Earnings per share for the fiscal year are expected to increase by 48.69%, and 21.49% over the next financial year. EPS should shrink at an annualized rate of 2.80% over the next five years, compared to 8.17% over the past 5-year period.
Looking at the support for the NVO, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on Jan-24-24, with the firm’s price target at $120.
