Novo Nordisk A/S (NYSE:NVO) Sees Unusually-High Trading Volume on Earnings Beat

Key Points

• Novo Nordisk A/S reported earnings of $0.97 per share, beating estimates by $0.04, with revenues of $11.69 billion.
• The stock experienced a significant 75% increase in trading volume following the earnings announcement, with 19.4 million shares traded.
• Analysts have mixed views on the stock, with two rating it as a sell, ten as a hold, and two as a buy, leading to a consensus target price of $93.67.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares saw an uptick in trading volume on Thursday following a better than expected earnings announcement. 19,424,230 shares changed hands during trading, an increase of 75% from the previous session's volume of 11,104,288 shares.The stock last traded at $48.24 and had previously closed at $45.38.

The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%.

Analysts Set New Price Targets

Several research firms recently commented on NVO. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $93.67.

Institutional Trading of Novo Nordisk A/S

Large investors have recently made changes to their positions in 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 worth $27,000 after acquiring an additional 300 shares during the period. Copeland Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after acquiring an additional 255 shares during the period. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $27,000. Park Square Financial Group LLC bought a new stake in shares of Novo Nordisk A/S in the fourth quarter worth approximately $29,000. Finally, Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $30,000. 11.54% of the stock is currently owned by institutional investors.

Novo Nordisk A/S Price Performance

The firm's 50-day moving average is $67.96 and its 200-day moving average is $72.01. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56. The company has a market capitalization of $215.22 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.43 and a beta of 0.63.

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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