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

Key Points

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Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares saw strong trading volume on Thursday . 12,881,192 shares were traded during trading, an increase of 25% from the previous session's volume of 10,290,593 shares.The stock last traded at $48.69 and had previously closed at $50.03.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent analyst reports. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. HSBC cut shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target for the company. in a report on Thursday. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday. Finally, Wall Street Zen raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $93.67.

Novo Nordisk A/S Stock Performance

The stock's 50-day moving average price is $70.06 and its 200 day moving average price is $73.21. The firm has a market cap of $216.01 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.04 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The firm had revenue of $11.87 billion for the quarter. As a group, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL grew its stake in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after buying an additional 300 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. North Capital Inc. bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $27,000. Park Square Financial Group LLC bought a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $29,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth about $30,000. 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.

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