Novo Nordisk A/S (NYSE:NVO) Trading Up 2.8% - Time to Buy?

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price shot up 2.8% during mid-day trading on Thursday . The company traded as high as $71.09 and last traded at $71.66. 1,923,286 shares were traded during trading, a decline of 74% from the average session volume of 7,272,354 shares. The stock had previously closed at $69.69.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating for the company. Dbs Bank cut shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Finally, Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Stock Performance

The firm's 50-day simple moving average is $70.36 and its two-hundred day simple moving average is $75.21. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $307.77 billion, a PE ratio of 20.39, a PEG ratio of 1.36 and a beta of 0.64.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting 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 firm had revenue of $11.87 billion for the quarter. On average, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. raised its holdings in shares of Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company's stock worth $5,410,000 after acquiring an additional 23,223 shares in the last quarter. North Star Investment Management Corp. increased its position in Novo Nordisk A/S by 18.2% in the 1st quarter. North Star Investment Management Corp. now owns 20,742 shares of the company's stock worth $1,440,000 after purchasing an additional 3,200 shares during the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $390,000. Dover Advisors LLC purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $505,000. Finally, Meridian Investment Counsel Inc. lifted its holdings in shares of Novo Nordisk A/S by 95.4% during the 4th quarter. Meridian Investment Counsel Inc. now owns 45,697 shares of the company's stock valued at $3,931,000 after buying an additional 22,314 shares during the last quarter. Hedge funds and other 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.