Novo Nordisk A/S (NYSE:NVO) Stock Price Up 2.2% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO) shares rose 2.2% on Tuesday . The company traded as high as $70.00 and last traded at $68.53. Approximately 4,877,531 shares traded hands during trading, a decline of 26% from the average daily volume of 6,592,821 shares. The stock had previously closed at $67.02.

Analyst Ratings Changes

A number of brokerages recently commented on NVO. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Guggenheim downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Novo Nordisk A/S Trading Up 2.2%

The stock has a 50 day moving average of $67.16 and a 200-day moving average of $83.87. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $307.36 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.90 and a beta of 0.65.

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, hitting the consensus estimate of $0.92. The business had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in shares of Novo Nordisk A/S by 58.5% during the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after acquiring an additional 23,223 shares in the last quarter. Bryn Mawr Capital Management LLC raised its stake in Novo Nordisk A/S by 358.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after acquiring an additional 30,420 shares in the last quarter. Clear Creek Financial Management LLC bought a new position in Novo Nordisk A/S during the 4th quarter valued at $450,000. DSM Capital Partners LLC boosted its holdings in Novo Nordisk A/S by 16.7% during the fourth quarter. DSM Capital Partners LLC now owns 2,007,412 shares of the company’s stock worth $172,678,000 after buying an additional 286,912 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its stake in Novo Nordisk A/S by 81.2% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 11,155 shares of the company’s stock valued at $960,000 after buying an additional 5,000 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

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.