Novo Nordisk A/S (NYSE:NVO) Stock Price Up 2.9% - Still a Buy?

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) traded up 2.9% on Wednesday . The stock traded as high as $73.10 and last traded at $72.98. 2,949,570 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 9,455,144 shares. The stock had previously closed at $70.91.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wall Street Zen raised Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 25th. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, BNP Paribas initiated coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $128.00.

Novo Nordisk A/S Price Performance

The stock has a 50 day moving average of $65.67 and a 200-day moving average of $81.09. The company has a market cap of $325.64 billion, a PE ratio of 22.06, a price-to-earnings-growth ratio of 0.90 and a beta of 0.66. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The company had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently bought and sold shares of NVO. Center for Financial Planning Inc. lifted its position in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after purchasing an additional 123 shares during the period. Strategic Investment Solutions Inc. IL increased its stake in shares of Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after purchasing an additional 300 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $29,000. Transce3nd LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter worth approximately $33,000. Finally, North Capital Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $27,000. Institutional investors and hedge funds 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.