Novo Nordisk A/S (NYSE:NVO) Trading 1.8% Higher

Novo Nordisk A/S (NYSE:NVO) shot up 1.8% during trading on Tuesday . The company traded as high as $130.46 and last traded at $129.21. 4,039,281 shares changed hands during trading, a decline of 15% from the average session volume of 4,752,512 shares. The stock had previously closed at $126.88.

Analyst Ratings Changes

Several brokerages have weighed in on NVO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. UBS Group began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Stock Up 0.7 %

The stock has a market capitalization of $579.97 billion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 2.14 and a beta of 0.43. The firm has a 50-day moving average of $127.22 and a 200 day moving average of $112.70. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Institutional Trading of Novo Nordisk A/S

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brookstone Capital Management lifted its position in shares of Novo Nordisk A/S by 91.4% in the 3rd quarter. Brookstone Capital Management now owns 14,339 shares of the company’s stock worth $1,400,000 after buying an additional 6,846 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Novo Nordisk A/S by 107.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 196,053 shares of the company’s stock valued at $17,829,000 after purchasing an additional 101,509 shares during the period. SVB Wealth LLC grew its stake in Novo Nordisk A/S by 108.2% during the 3rd quarter. SVB Wealth LLC now owns 27,626 shares of the company’s stock worth $2,512,000 after buying an additional 14,360 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Novo Nordisk A/S by 149.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 141,953 shares of the company’s stock worth $12,909,000 after buying an additional 85,022 shares during the period. Finally, Xponance Inc. bought a new stake in Novo Nordisk A/S in the third quarter valued at $248,000. 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.