Novo Nordisk A/S (NYSE:NVO) Shares Up 1.5%

Novo Nordisk A/S (NYSE:NVO) shot up 1.5% on Monday . The company traded as high as $144.94 and last traded at $144.94. 963,791 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 4,418,987 shares. The stock had previously closed at $142.74.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NVO. BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Finally, Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

The firm has a fifty day simple moving average of $135.00 and a 200 day simple moving average of $123.71. The company has a market capitalization of $653.03 billion, a PE ratio of 50.01, a P/E/G ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. Equities analysts anticipate that Novo Nordisk A/S will post 3.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Pacific Center for Financial Services grew its stake in Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the last quarter. First PREMIER Bank purchased a new position in Novo Nordisk A/S during the 1st quarter worth $25,000. CNB Bank purchased a new position in Novo Nordisk A/S during the 4th quarter worth $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Orion Capital Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter worth $26,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.