Novo Nordisk A/S (NYSE:NVO) Shares Up 2.6% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) traded up 2.6% on Friday . The company traded as high as $75.16 and last traded at $74.56. 4,460,996 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 6,863,901 shares. The stock had previously closed at $72.65.

Analyst Ratings Changes

NVO has been the subject of several research analyst reports. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. Wall Street Zen lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Friday. Guggenheim downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. Hsbc Global Res raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, six 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, the company has a consensus rating of “Hold” and a consensus target price of $128.00.

Novo Nordisk A/S Stock Up 2.8%

The business has a 50-day moving average price of $65.87 and a 200 day moving average price of $80.54. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $335.22 billion, a P/E ratio of 22.71, a P/E/G ratio of 0.90 and a beta of 0.66.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVO. M. Kulyk & Associates LLC raised its stake in shares of Novo Nordisk A/S by 3.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock worth $274,000 after purchasing an additional 119 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in Novo Nordisk A/S by 72.4% in the 4th 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. Tradewinds Capital Management LLC raised its position in Novo Nordisk A/S by 2.6% during the 4th quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company’s stock worth $429,000 after buying an additional 124 shares during the last quarter. Exencial Wealth Advisors LLC raised its position in Novo Nordisk A/S by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company’s stock worth $1,987,000 after buying an additional 124 shares during the last quarter. Finally, Indie Asset Partners LLC lifted its stake in Novo Nordisk A/S by 4.2% during the 4th quarter. Indie Asset Partners LLC now owns 3,128 shares of the company’s stock valued at $269,000 after acquiring an additional 126 shares during the period. Hedge funds and other 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.