Novo Nordisk A/S (NYSE:NVO) Trading 1.6% Higher - Time to Buy?

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shot up 1.6% during trading on Tuesday . The company traded as high as $70.60 and last traded at $70.43. 2,537,071 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 7,245,082 shares. The stock had previously closed at $69.32.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVO. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. BNP Paribas started coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Finally, Guggenheim lowered 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 given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $112.00.

Novo Nordisk A/S Trading Down 3.1%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The company has a market capitalization of $307.33 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.36 and a beta of 0.64. The firm has a fifty day moving average price of $70.36 and a 200-day moving average price of $75.21.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. The business had revenue of $11.87 billion during the quarter. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL raised its position in 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 valued at $27,000 after purchasing an additional 300 shares during the last quarter. Copeland Capital Management LLC raised its position in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. North Capital Inc. bought a new position in Novo Nordisk A/S in the first quarter valued at about $27,000. Park Square Financial Group LLC bought a new position in Novo Nordisk A/S in the fourth quarter valued at about $29,000. Finally, Stone House Investment Management LLC bought a new position in Novo Nordisk A/S in the first quarter valued at about $30,000. 11.54% of the stock is currently owned by institutional investors.

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.