Novo Nordisk A/S (NYSE:NVO) Trading 2.2% Higher – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price was up 2.2% during mid-day trading on Tuesday . The stock traded as high as $70.00 and last traded at $68.53. Approximately 4,877,531 shares were traded during trading, a decline of 26% from the average daily volume of 6,592,821 shares. The stock had previously closed at $67.02.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NVO shares. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. BMO Capital Markets restated a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, Dbs Bank downgraded shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.00.

Novo Nordisk A/S Stock Up 2.2%

The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $67.16 and a two-hundred day moving average price of $83.87. The firm has a market cap of $307.36 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65.

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

Institutional Trading of Novo Nordisk A/S

Several large investors have recently modified their holdings of NVO. Center for Financial Planning Inc. boosted its position in shares of Novo Nordisk A/S by 72.4% during the fourth 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 period. Strategic Investment Solutions Inc. IL raised 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 buying an additional 300 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after buying an additional 255 shares during the last quarter. North Capital Inc. bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $27,000. Finally, Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $29,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.