Novo Nordisk A/S (NYSE:NVO) Trading Up 1.5% – Time to Buy?

Novo Nordisk A/S (NYSE:NVO) was up 1.5% on Friday . The company traded as high as $68.94 and last traded at $68.72. Approximately 1,955,244 shares changed hands during trading, a decline of 73% from the average daily volume of 7,189,506 shares. The stock had previously closed at $67.70.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NVO shares. Stifel Nicolaus downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Wall Street Zen raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Hsbc Global Res raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. Finally, BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an “underperform” rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.00.

Novo Nordisk A/S Stock Up 1.2%

The business’s 50 day moving average price is $69.11 and its 200-day moving average price is $77.04. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The company has a market cap of $305.85 billion, a P/E ratio of 20.27, a PEG ratio of 1.22 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last posted 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 net margin of 34.52% and a return on equity of 80.94%. The company had revenue of $11.87 billion during the quarter. On average, analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NVO. Revolve Wealth Partners LLC raised its position in Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after purchasing an additional 200 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Novo Nordisk A/S in the 4th quarter worth approximately $13,282,000. SVB Wealth LLC bought a new position in Novo Nordisk A/S in the 4th quarter worth approximately $1,250,000. Nixon Peabody Trust Co. raised its position in Novo Nordisk A/S by 38.6% in the 4th quarter. Nixon Peabody Trust Co. now owns 2,874 shares of the company’s stock worth $247,000 after purchasing an additional 800 shares during the last quarter. Finally, Tower View Wealth Management LLC raised its position in Novo Nordisk A/S by 5.8% in the 4th quarter. Tower View Wealth Management LLC now owns 25,035 shares of the company’s stock worth $2,154,000 after purchasing an additional 1,379 shares during the last quarter. Institutional investors 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.