Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Here’s Why

Shares of Novo Nordisk A/S (NYSE:NVO) gapped up prior to trading on Friday . The stock had previously closed at $81.10, but opened at $89.97. Novo Nordisk A/S shares last traded at $87.64, with a volume of 9,951,988 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

The business’s 50-day moving average price is $95.62 and its 200 day moving average price is $115.55. The company has a market capitalization of $391.54 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors have recently added to or reduced their stakes in NVO. Raymond James & Associates increased its position in shares of Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after purchasing an additional 36,223 shares during the last quarter. Natixis Advisors LLC grew its position in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares in the last quarter. International Assets Investment Management LLC increased its stake in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. DSM Capital Partners LLC raised its position in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of Novo Nordisk A/S by 3.6% in the 3rd quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after purchasing an additional 47,496 shares in the last quarter. 11.54% of the stock is currently owned by 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.