Novo Nordisk ADR (NYSE: NVO) – Suitable For Long Term Buy?

Currently, there are 3.38B common shares owned by the public and among those 3.38B shares have been available to trade.

The company’s stock has a 5-day price change of -2.01% and 22.24% over the past three months. NVO shares are trading 22.24% year to date (YTD), with the 12-month market performance up to 59.98% higher. It has a 12-month low price of $75.56 and touched a high of $138.28 over the same period. NVO has an average intraday trading volume of 5.20 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 -3.05%, 3.43%, and 25.67% respectively.

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Institutional ownership of Novo Nordisk ADR (NYSE: NVO) shares accounts for 9.15% of the company’s 3.38B shares outstanding.

It has a market capitalization of $427.87B and a beta (3y monthly) value of 0.43. The stock’s trailing 12-month PE ratio is 46.81, while the earnings-per-share (ttm) stands at $2.70. The company has a PEG of 16.72 and a Quick Ratio of 0.64 with the debt-to-equity ratio at 0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.58% over the week and 1.95% over the month.

Analysts forecast that Novo Nordisk ADR (NVO) will achieve an EPS of $0.75 for the current quarter, $0.77 for the next quarter and $3.95 for 2025. The lowest estimate earnings-per-share for the quarter is $0.68 while analysts give the company a high EPS estimate of $0.79. Comparatively, EPS for the current quarter was $0.64 a year ago. Earnings per share for the fiscal year are expected to increase by 25.14%, and 21.09% over the next financial year. EPS should shrink at an annualized rate of 2.80% over the next five years, compared to 16.48% 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 January 23, 2024, with the firm’s price target at $120. Cantor Fitzgerald was of a view on December 01, 2023 that the stock is Overweight, while Argus gave the stock Buy rating on October 02, 2023, issuing a price target of $110. HSBC Securities on their part issued Buy rating on July 14, 2023.

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