Novo Nordisk A/S (NYSE:NVO) Trading Up 1.1% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO) shares shot up 1.1% during trading on Thursday . The company traded as high as $107.46 and last traded at $106.49. 1,815,982 shares changed hands during trading, a decline of 59% from the average session volume of 4,407,391 shares. The stock had previously closed at $105.36.

Analyst Ratings Changes

Several research analysts have recently weighed in on NVO shares. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

The company has a fifty day moving average price of $122.65 and a 200 day moving average price of $130.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market cap of $482.99 billion, a P/E ratio of 36.86, a P/E/G ratio of 1.43 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, equities analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently added to or reduced their stakes in the business. Aljian Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $531,000. Claro Advisors LLC boosted its holdings in Novo Nordisk A/S by 10.6% during the 3rd quarter. Claro Advisors LLC now owns 26,088 shares of the company’s stock worth $3,106,000 after acquiring an additional 2,509 shares during the last quarter. Adero Partners LLC grew its stake in shares of Novo Nordisk A/S by 15.4% in the 3rd quarter. Adero Partners LLC now owns 5,948 shares of the company’s stock worth $708,000 after acquiring an additional 792 shares in the last quarter. Atlanta Consulting Group Advisors LLC lifted its position in shares of Novo Nordisk A/S by 219.5% during the third quarter. Atlanta Consulting Group Advisors LLC now owns 5,876 shares of the company’s stock valued at $700,000 after purchasing an additional 4,037 shares in the last quarter. Finally, Frazier Financial Advisors LLC grew its position in Novo Nordisk A/S by 27.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 2,370 shares of the company’s stock worth $282,000 after purchasing an additional 514 shares in the last quarter. 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.