Novo Nordisk A/S (NYSE:NVO) Trading Up 1.7% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price traded up 1.7% during mid-day trading on Tuesday . The stock traded as high as $80.30 and last traded at $80.05. 2,673,411 shares were traded during mid-day trading, a decline of 69% from the average session volume of 8,707,202 shares. The stock had previously closed at $78.69.

Analysts Set New Price Targets

Several equities research analysts have commented on NVO shares. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, 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 Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Stock Up 1.0 %

The stock has a fifty day moving average price of $96.10 and a 200-day moving average price of $115.79. The firm has a market cap of $365.09 billion, a PE ratio of 26.33, a PEG ratio of 0.89 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the business. Natixis Advisors LLC raised its stake in shares of Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after purchasing an additional 80,070 shares during the period. Norman Fields Gottscho Capital Management LLC raised its stake in Novo Nordisk A/S by 45.3% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after buying an additional 19,870 shares in the last quarter. Talbot Financial LLC bought a new position in Novo Nordisk A/S during the fourth quarter worth $4,066,000. Versant Capital Management Inc bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $86,000. Finally, Zions Bancorporation N.A. raised its position in shares of Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after purchasing an additional 6,726 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.