Novo Nordisk A/S (NYSE:NVO) Shares Gap Up - Time to Buy?

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $75.46, but opened at $77.99. Novo Nordisk A/S shares last traded at $78.68, with a volume of 2,825,003 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BNP Paribas started coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. 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. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $112.00.

Novo Nordisk A/S Price Performance

The stock has a fifty day moving average of $66.26 and a 200-day moving average of $80.17. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $354.86 billion, a P/E ratio of 24.08, a PEG ratio of 0.90 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced 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. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion during the quarter. Equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. M. Kulyk & Associates LLC lifted its holdings in Novo Nordisk A/S by 3.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock valued at $274,000 after buying an additional 119 shares during the period. Center for Financial Planning Inc. raised its position in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 2.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company's stock valued at $429,000 after purchasing an additional 124 shares during the period. Exencial Wealth Advisors LLC boosted its position in shares of Novo Nordisk A/S by 0.5% in the 4th quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company's stock worth $1,987,000 after purchasing an additional 124 shares during the last quarter. Finally, Indie Asset Partners LLC grew its stake in shares of Novo Nordisk A/S by 4.2% during the fourth quarter. Indie Asset Partners LLC now owns 3,128 shares of the company's stock worth $269,000 after purchasing an additional 126 shares during the period. 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.