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

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $67.02, but opened at $69.45. Novo Nordisk A/S shares last traded at $69.56, with a volume of 2,038,889 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NVO shares. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. BNP Paribas started coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating for the company. BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Finally, Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $135.00.

Novo Nordisk A/S Price Performance

The company has a market capitalization of $307.82 billion, a P/E ratio of 20.85, a PEG ratio of 0.90 and a beta of 0.65. The business has a 50 day simple moving average of $67.16 and a 200-day simple moving average of $83.87. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

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

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Center for Financial Planning Inc. raised its holdings in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its holdings in shares of Novo Nordisk A/S by 2,727.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after purchasing an additional 300 shares during the period. Copeland Capital Management LLC increased its stake in Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares during the period. North Capital Inc. purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth $27,000. Finally, Park Square Financial Group LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth about $29,000. Institutional investors own 11.54% of the company's stock.

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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