Novo Nordisk A/S (NYSE:NVO) Stock Price Up 5% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO)’s stock price rose 5% during mid-day trading on Thursday . The company traded as high as $62.44 and last traded at $62.28. Approximately 20,171,422 shares traded hands during trading, a decline of 17% from the average daily volume of 24,431,426 shares. The stock had previously closed at $59.32.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Novo Nordisk A/S in a research note on Wednesday, January 14th. Zacks Research raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, January 9th. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. HSBC restated a “hold” rating and issued a $54.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, December 10th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $42.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.21.

Novo Nordisk A/S Trading Down 0.0%

The stock has a market capitalization of $277.80 billion, a P/E ratio of 18.09 and a beta of 0.66. The business has a 50 day simple moving average of $52.13 and a 200-day simple moving average of $54.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The business had revenue of $11.79 billion during the quarter, compared to analysts’ expectations of $11.98 billion. On average, analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC grew its holdings in shares of Novo Nordisk A/S by 209.8% in the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after acquiring an additional 300 shares during the last quarter. NewSquare Capital LLC boosted its position in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after purchasing an additional 282 shares during the period. Guerra Advisors Inc purchased a new position in Novo Nordisk A/S in the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new position in Novo Nordisk A/S in the 3rd quarter worth about $30,000. Finally, Mid American Wealth Advisory Group Inc. acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Novo Nordisk A/S

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.