Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $67.35, but opened at $70.81. Novo Nordisk A/S shares last traded at $70.65, with a volume of 2,548,211 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Guggenheim cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Hsbc Global Res raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. Dbs Bank cut shares of Novo Nordisk A/S to a “sell” rating in a research report on Friday, April 25th. BNP Paribas started coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Finally, BMO Capital Markets reaffirmed 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 report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average price target of $135.00.

Novo Nordisk A/S Stock Performance

The company’s fifty day moving average is $66.07 and its 200 day moving average is $82.47. 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 $317.48 billion, a P/E ratio of 21.47, a P/E/G ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting 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 business had revenue of $11.87 billion for the quarter. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Center for Financial Planning Inc. raised its position in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Strategic Investment Solutions Inc. IL grew its holdings in Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Copeland Capital Management LLC increased its position in Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the period. North Capital Inc. bought a new stake in Novo Nordisk A/S during the 1st quarter valued at $27,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth $29,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.