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

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $67.35, but opened at $70.81. Novo Nordisk A/S shares last traded at $70.65, with a volume of 2,548,211 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NVO shares. Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. BMO Capital Markets reissued a "market perform" rating and set a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating on the stock. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. Finally, Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.00.

Novo Nordisk A/S Price Performance

The stock has a market cap of $317.48 billion, a P/E ratio of 21.47, a P/E/G ratio of 0.90 and a beta of 0.65. The firm has a 50 day moving average price of $66.07 and a 200 day moving average price of $82.47. 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The firm had revenue of $11.87 billion during the quarter. On average, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in NVO. Nisa Investment Advisors LLC increased its position in shares of Novo Nordisk A/S by 36.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the company's stock worth $129,000 after purchasing an additional 400 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in Novo Nordisk A/S by 25.7% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 3,555 shares of the company's stock worth $306,000 after purchasing an additional 726 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in Novo Nordisk A/S by 7.6% in the 4th quarter. First Citizens Bank & Trust Co. now owns 18,327 shares of the company's stock valued at $1,576,000 after purchasing an additional 1,302 shares in the last quarter. Novare Capital Management LLC lifted its position in Novo Nordisk A/S by 25.6% during the 4th quarter. Novare Capital Management LLC now owns 3,424 shares of the company's stock worth $295,000 after acquiring an additional 697 shares in the last quarter. Finally, Stablepoint Partners LLC raised its stake in Novo Nordisk A/S by 5.2% during the fourth quarter. Stablepoint Partners LLC now owns 12,068 shares of the company's stock worth $1,038,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds 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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