Novo Nordisk A/S (NYSE:NVO) Stock Price Up 2.3% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) shot up 2.3% during mid-day trading on Wednesday . The company traded as high as $50.43 and last traded at $50.2570. 24,548,874 shares changed hands during trading, an increase of 95% from the average session volume of 12,604,865 shares. The stock had previously closed at $49.15.

Wall Street Analyst Weigh In

Several brokerages have commented on NVO. Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Wednesday, September 17th. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their price objective for the company from $59.00 to $47.00 in a research note on Monday, September 29th. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a research note on Wednesday, August 13th. Finally, HSBC set a $70.00 price target on Novo Nordisk A/S in a research note on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.20.

Novo Nordisk A/S Stock Up 2.3%

The stock has a market capitalization of $224.40 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 2.33 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock has a fifty day moving average price of $54.96 and a 200 day moving average price of $61.30.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.74 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. On average, research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVO. Revolve Wealth Partners LLC grew its position in Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after buying an additional 200 shares in the last quarter. Xponance Inc. increased its position in shares of Novo Nordisk A/S by 5.0% in the first quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after purchasing an additional 158 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Novo Nordisk A/S by 0.9% in the first quarter. Bleakley Financial Group LLC now owns 70,718 shares of the company’s stock worth $4,911,000 after purchasing an additional 625 shares during the last quarter. Hohimer Wealth Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter valued at approximately $588,000. Finally, Apollon Wealth Management LLC lifted its position in Novo Nordisk A/S by 11.2% during the first quarter. Apollon Wealth Management LLC now owns 49,192 shares of the company’s stock valued at $3,416,000 after purchasing an additional 4,964 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.