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

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price gapped up before the market opened 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 traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVO. Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Finally, BMO Capital Markets restated a "market perform" rating and issued a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.00.

Novo Nordisk A/S Stock Performance

The stock has a market cap of $308.02 billion, a price-to-earnings ratio of 20.86, a P/E/G ratio of 0.90 and a beta of 0.65. The company's fifty day simple moving average is $65.74 and its two-hundred day simple moving average is $82.29. 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 earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. The company had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC boosted its holdings in Novo Nordisk A/S by 61.7% during the 1st quarter. Jacobi Capital Management LLC now owns 13,324 shares of the company's stock worth $925,000 after acquiring an additional 5,084 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after purchasing an additional 1,038,137 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Novo Nordisk A/S by 6.6% during the first quarter. Geneos Wealth Management Inc. now owns 20,585 shares of the company's stock worth $1,429,000 after purchasing an additional 1,266 shares during the last quarter. Belpointe Asset Management LLC grew its position in Novo Nordisk A/S by 96.2% in the 1st quarter. Belpointe Asset Management LLC now owns 10,589 shares of the company's stock worth $735,000 after purchasing an additional 5,193 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in Novo Nordisk A/S by 17.6% in the 1st quarter. Focus Partners Wealth now owns 453,434 shares of the company's stock valued at $31,489,000 after buying an additional 67,853 shares during the last quarter. 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.