Novo Nordisk A/S (NYSE:NVO) Trading 2.8% Higher - Still a Buy?

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

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. BMO Capital Markets restated a "market perform" rating and set a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Finally, Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Hold" and a consensus target price of $112.00.

Novo Nordisk A/S Stock Down 2.9%

The company has a market cap of $307.77 billion, a PE ratio of 20.39, a P/E/G ratio of 1.33 and a beta of 0.64. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The firm's fifty day simple moving average is $70.35 and its 200-day simple moving average is $74.91.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The company had revenue of $11.87 billion for the quarter. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal 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 lifted its stake in shares of Novo Nordisk A/S by 2,727.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after buying an additional 300 shares during the period. Copeland Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares during the period. North Capital Inc. purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $29,000. Finally, Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $30,000. 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.