Novo Nordisk A/S (NYSE:NVO) Stock Price Up 5.5% – Time to Buy?

Novo Nordisk A/S (NYSE:NVO) shares rose 5.5% during trading on Tuesday . The stock traded as high as $79.57 and last traded at $79.64. Approximately 4,638,015 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 6,915,415 shares. The stock had previously closed at $75.46.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Friday. Dbs Bank downgraded Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. BNP Paribas assumed coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They set an “underperform” rating on the stock. Finally, Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $128.00.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $357.71 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a 50-day moving average price of $66.01 and a 200-day moving average price of $80.18.

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

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently modified their holdings of NVO. Center for Financial Planning Inc. lifted its holdings in 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 worth $25,000 after buying an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of 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 worth $27,000 after purchasing an additional 300 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $29,000. Transce3nd LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $33,000. Finally, North Capital Inc. acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at approximately $27,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.