Novo Nordisk A/S (NYSE:NVO) Shares Up 2.7% - Here's What Happened

Key Points

• Shares rose 2.7% to $63.96 on Monday (intraday high $64.00) with about 19.98 million shares traded, roughly 18% below the stock's average daily volume.
• MarketBeat shows a consensus rating of "Hold" with an average price target of $57.79, based on a mix of 1 Strong Buy, 7 Buy, 11 Hold and 3 Sell ratings.
• Novo Nordisk beat EPS expectations for the quarter ($1.02 vs. $0.77) but missed revenue estimates ($11.79B vs. $11.98B); the company reported a net margin of 32.76% and a market cap of about $285.6 billion.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares were up 2.7% during trading on Monday . The stock traded as high as $64.00 and last traded at $63.96. Approximately 19,981,823 shares changed hands during trading, a decline of 18% from the average daily volume of 24,340,666 shares. The stock had previously closed at $62.26.

Wall Street Analyst Weigh In

NVO has been the subject of several recent research reports. Morgan Stanley reissued an "underweight" rating and issued a $42.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, December 3rd. Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Monday, November 24th. The Goldman Sachs Group reissued a "buy" rating on shares of Novo Nordisk A/S in a report on Thursday. HSBC reissued a "hold" rating and issued a $54.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. Finally, Argus reaffirmed a "hold" rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Novo Nordisk A/S has a consensus rating of "Hold" and an average target price of $57.79.

Novo Nordisk A/S Stock Up 2.7%

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.57. The firm's 50-day moving average price is $52.13 and its 200 day moving average price is $54.59. The firm has a market capitalization of $285.58 billion, a price-to-earnings ratio of 18.59 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The business had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.98 billion. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Institutional Trading of Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the company. Revolve Wealth Partners LLC grew its position in shares of Novo Nordisk A/S by 8.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock valued at $214,000 after purchasing an additional 200 shares during the period. AQR Capital Management LLC boosted its stake in Novo Nordisk A/S by 21.0% in the 1st quarter. AQR Capital Management LLC now owns 62,099 shares of the company's stock worth $4,312,000 after buying an additional 10,758 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Novo Nordisk A/S by 18.2% in the 2nd quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company's stock valued at $712,000 after buying an additional 1,587 shares during the period. Old Port Advisors increased its stake in shares of Novo Nordisk A/S by 12.6% during the 2nd quarter. Old Port Advisors now owns 3,466 shares of the company's stock valued at $239,000 after acquiring an additional 388 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 20.4% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 3,535 shares of the company's stock worth $244,000 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 is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company's core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.

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