Novo Nordisk A/S (NYSE:NVO) Stock Price Up 0.6% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) shares rose 0.6% on Monday . The stock traded as high as $66.21 and last traded at $66.18. Approximately 9,768,726 shares changed hands during mid-day trading, an increase of 53% from the average daily volume of 6,400,571 shares. The stock had previously closed at $65.77.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an “underperform” rating on the stock. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Finally, BMO Capital Markets restated a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus target price of $135.00.

Novo Nordisk A/S Stock Performance

The company has a market cap of $303.79 billion, a PE ratio of 20.58, a PEG ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The firm’s 50 day moving average is $69.21 and its 200-day moving average is $85.83.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion during the quarter, compared to analysts’ expectations of $79.17 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently bought and sold shares of the stock. Center for Financial Planning Inc. raised its holdings in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares during the period. Strategic Investment Solutions Inc. IL raised its holdings in Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the period. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth about $29,000. Transce3nd LLC acquired a new position in Novo Nordisk A/S during the 4th quarter worth about $33,000. Finally, North Capital Inc. acquired a new position in Novo Nordisk A/S during the 1st quarter worth about $27,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

About Novo Nordisk A/S

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.