Novo Nordisk A/S (NYSE:NVO) Trading 1.4% Higher – Should You Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price was up 1.4% on Thursday . The company traded as high as $57.91 and last traded at $57.3390. Approximately 17,041,720 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 21,933,531 shares. The stock had previously closed at $56.57.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVO. Rothschild & Co Redburn raised Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 16th. Zacks Research cut shares of Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 3rd. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $53.33.

Novo Nordisk A/S Trading Up 1.4%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The stock has a market cap of $256.02 billion, a P/E ratio of 16.67 and a beta of 0.66. The company has a 50-day simple moving average of $49.32 and a 200-day simple moving average of $55.46.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. The firm had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.98 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in Novo Nordisk A/S by 209.8% in the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares during the last quarter. Guerra Advisors Inc acquired a new position in Novo Nordisk A/S during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at about $30,000. NewSquare Capital LLC grew its position in shares of Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the period. Finally, Allianz SE raised its stake in shares of Novo Nordisk A/S by 70.0% during the third quarter. Allianz SE now owns 578 shares of the company’s stock worth $32,000 after buying an additional 238 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.