Novo Nordisk ADR (NVO) Shares Down Despite Recent Market Volatility

Novo Nordisk ADR (NYSE: NVO)’s stock price has decreased by -0.19 compared to its previous closing price of 135.28. However, the company has seen a -0.75% decrease in its stock price over the last five trading sessions. globenewswire.com reported 2024-06-03 that Bagsværd, Denmark, 3 June 2024 – On 6 May 2024, Novo Nordisk initiated a share repurchase programme in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the “Safe Harbour Rules”). This programme is part of the overall share repurchase programme of up to DKK 20 billion to be executed during a 12-month period beginning 6 February 2024.

Is It Worth Investing in Novo Nordisk ADR (NYSE: NVO) Right Now?

Novo Nordisk ADR (NYSE: NVO) has a higher price-to-earnings ratio of 46.62x compared to its average ratio. NVO has 36-month beta value of 0.42. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 0 as “sell.”

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The public float for NVO is 3.34B, and currently, short sellers hold a 0.11% ratio of that float. The average trading volume of NVO on June 03, 2024 was 4.38M shares.

NVO’s Market Performance

NVO stock saw an increase of -0.75% in the past week, with a monthly gain of 8.87% and a quarterly increase of 5.52%. The volatility ratio for the week is 1.40%, and the volatility levels for the last 30 days are 1.61% for Novo Nordisk ADR (NVO). The simple moving average for the last 20 days is 2.59% for NVO stock, with a simple moving average of 21.93% for the last 200 days.

Analysts’ Opinion of NVO

Many brokerage firms have already submitted their reports for NVO stocks, with Goldman repeating the rating for NVO by listing it as a “Buy.” The predicted price for NVO in the upcoming period, according to Goldman is $156 based on the research report published on May 30, 2024 of the current year 2024.

BMO Capital Markets, on the other hand, stated in their research note that they expect to see NVO reach a price target of $163. The rating they have provided for NVO stocks is “Outperform” according to the report published on April 12th, 2024.

Morgan Stanley gave a rating of “Overweight” to NVO, setting the target price at $120 in the report published on January 23rd of the current year.

NVO Trading at 5.12% from the 50-Day Moving Average

After a stumble in the market that brought NVO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.36% of loss for the given period.

Volatility was left at 1.61%, however, over the last 30 days, the volatility rate increased by 1.40%, as shares surge +9.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +4.18% upper at present.

During the last 5 trading sessions, NVO fell by -0.57%, which changed the moving average for the period of 200-days by +46.50% in comparison to the 20-day moving average, which settled at $132.22. In addition, Novo Nordisk ADR saw 30.52% in overturn over a single year, with a tendency to cut further gains.

Stock Fundamentals for NVO

Current profitability levels for the company are sitting at:

  • 0.45 for the present operating margin
  • 0.85 for the gross margin

The net margin for Novo Nordisk ADR stands at 0.37. The total capital return value is set at 0.82. Equity return is now at value 99.99, with 32.56 for asset returns.

Based on Novo Nordisk ADR (NVO), the company’s capital structure generated 0.21 points at debt to capital in total, while cash flow to debt ratio is standing at 3.47. The debt to equity ratio resting at 0.27. The interest coverage ratio of the stock is 45.41.

Currently, EBITDA for the company is 112.94 billion with net debt to EBITDA at 0.17. When we switch over and look at the enterprise to sales, we see a ratio of 16.85. The receivables turnover for the company is 3.87for trailing twelve months and the total asset turnover is 0.82. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.70.

Conclusion

To put it simply, Novo Nordisk ADR (NVO) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.

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