Novo Nordisk A/S (NYSE:NVO) Trading Up 0.4% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price was up 0.4% during mid-day trading on Thursday . The company traded as high as $81.43 and last traded at $80.86. Approximately 1,710,374 shares changed hands during trading, a decline of 80% from the average daily volume of 8,405,317 shares. The stock had previously closed at $80.57.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVO. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets reduced their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, 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. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Trading Up 8.4 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The business has a fifty day moving average of $95.35 and a 200-day moving average of $115.17. The stock has a market capitalization of $394.65 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

Institutional Trading of Novo Nordisk A/S

Hedge funds and other institutional investors have recently made changes to their positions in the business. Xponance Inc. lifted its position in shares of Novo Nordisk A/S by 27.6% during the 2nd quarter. Xponance Inc. now owns 2,665 shares of the company’s stock valued at $380,000 after acquiring an additional 576 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 110.5% during the second quarter. AQR Capital Management LLC now owns 17,164 shares of the company’s stock valued at $2,450,000 after purchasing an additional 9,012 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Novo Nordisk A/S by 15.9% in the 2nd quarter. Daymark Wealth Partners LLC now owns 6,290 shares of the company’s stock valued at $898,000 after purchasing an additional 864 shares during the period. Maverick Capital Ltd. increased its stake in Novo Nordisk A/S by 272.9% in the 2nd quarter. Maverick Capital Ltd. now owns 7,849 shares of the company’s stock worth $1,120,000 after purchasing an additional 5,744 shares in the last quarter. Finally, Matrix Private Capital Group LLC raised its holdings in Novo Nordisk A/S by 7.9% during the 2nd quarter. Matrix Private Capital Group LLC now owns 1,757 shares of the company’s stock worth $251,000 after buying an additional 129 shares during the period. 11.54% of the stock is currently owned by 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.