Novo Nordisk A/S (NYSE:NVO) Sees Large Volume Increase - What's Next?

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) saw unusually-high trading volume on Monday . Approximately 9,587,590 shares changed hands during trading, an increase of 41% from the previous session's volume of 6,813,352 shares.The stock last traded at $71.51 and had previously closed at $71.50.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Wall Street Zen upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating on the stock. Finally, Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of "Hold" and an average price target of $128.00.

Novo Nordisk A/S Stock Performance

The firm's fifty day moving average is $65.62 and its 200 day moving average is $81.15. The firm has a market capitalization of $318.17 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The business had revenue of $11.87 billion for the quarter. On average, analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds have recently added to or reduced their stakes in the company. Invst LLC acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth $466,000. Modern Wealth Management LLC bought a new stake in Novo Nordisk A/S in the first quarter worth $414,000. Rhumbline Advisers raised its holdings in Novo Nordisk A/S by 10.2% during the first quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock valued at $4,412,000 after buying an additional 5,898 shares in the last quarter. Jacobi Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 61.7% in the first quarter. Jacobi Capital Management LLC now owns 13,324 shares of the company's stock worth $925,000 after buying an additional 5,084 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Novo Nordisk A/S by 15,919.9% during the 1st quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after acquiring an additional 1,038,137 shares in the last quarter. Institutional investors and hedge funds 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.