Novo Nordisk A/S (NYSE:NVO) finished Wednesday with an addition of $5.03 to close at $190.04, an upside of 2.72 percent. An average of 1,423,800 shares of common stock have been traded in the last five days. There was a gain of $5.39 in the past week, and it reached a new high 47 times over the past 12 months. The last 20 days have seen an average of 2,029,545 shares traded, while the 50-day average volume stands at 1,536,458.
NVO stock has increased by 17.08% in the last month. The company shares reached their 1-month lowest point of $155.91 on 07/28/23. With the stock rallying to its 52-week high on 08/08/23, shares of the company touched a low of $95.02 and a high of $192.18 in 52 weeks. It has reached a new high 28 times so far this year and achieved 40.42% or $54.70 in price. In spite of this, the price is down -1.11% from the 52-week high.
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Valuation Metrics
Novo Nordisk A/S (NVO) has a trailing price-to-earnings (P/E) ratio of 43.91. The stock’s beta is 0.42. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 11.29, the price-to-book (PB) ratio at 32.32.
The company has a payout ratio of 33.02%. The company’s most recent quarterly dividend payment was $0.8836 a share, representing a down of -25.67% from $1.1887 last year. Its latest decrease dividend $0.3052 reported on Thursday August 10 2023.
Financial Health
The quick ratio of Novo Nordisk A/S for the three months ended March 30 was 0.70, and the current ratio was 0.90, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.21 and a total debt to equity ratio of 0.28 for the quarter ending March 30. Novo Nordisk A/S’s EBITDA margin for the year ending March 30 is 45.79%, while its operating margin for the same period stands at 42.80%. Its gross profit as reported stood at $21.03 billion compared to revenue of $25.06 billion.
Earnings Surprise
The analyst consensus anticipated Novo Nordisk A/S’s latest quarter earnings to come in at $1.27 per share, but it turned out to be $1.29, a 1.60% surprise. For the quarter, EBITDA amounted to $3.81 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Novo Nordisk A/S (NVO) price momentum. RSI 9-day as of the close on 23 August was 72.31%, suggesting the stock is Overbought, with historical volatility in this time frame at 23.09%.
As of today, NVO’s price is $185.75 +2.92% or $5.39 from its 5-day moving average. NVO is currently trading +20.07% higher than its 20-day SMA and +20.21% higher than its 100-day SMA. However, the stock’s current price level is +19.71% above the SMA50 and +66.89% above the SMA200.
The stochastic %K and %D were 85.45% and 81.07%, respectively, and the average true range (ATR) was 4.56. With the 14-day stochastic at 94.02% and the average true range at 4.44, the RSI (14) stands at 69.54%. The stock has reached 2.58 on the 9-day MACD Oscillator while the 14-day reading was at 5.80.
Analyst Ratings
HSBC Securities launched coverage on Novo Nordisk A/S (NYSE: NVO) in its analyst report released on July 14, 2023. The firm assigned the stock a Buy rating. The consensus rating for Novo Nordisk A/S (NVO) among analysts is Overweight. According to current brokerage recommendations, 3 brokerage firms advise that investors sell NVO, while 7 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 14 others rate it as a “buy”.
What is NVO’s price target for the next 12 months?
Analysts predict a range of price targets between $105.39 and $228.24, with a median target of $192.21. Taking a look at these predictions, the average price target given by analysts for Novo Nordisk A/S (NVO) stock is $185.35.
