Novo Nordisk A/S (NYSE:NVO) Stock Price Up 1.3% - Should You Buy?

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price traded up 1.3% during trading on Tuesday . The stock traded as high as $70.80 and last traded at $70.62. 2,437,324 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 7,130,132 shares. The stock had previously closed at $69.72.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NVO shares. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. 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 raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Stifel Nicolaus lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Hold" and a consensus price target of $112.00.

Novo Nordisk A/S Stock Up 1.2%

The firm's fifty day moving average is $68.90 and its 200 day moving average is $77.56. 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 firm has a market cap of $305.85 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.20 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts' consensus estimates 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. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds have recently bought and sold shares of NVO. GQG Partners LLC increased its stake in shares of Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Nuveen LLC purchased a new position in Novo Nordisk A/S during the first quarter worth about $370,272,000. Raymond James Financial Inc. bought a new position in shares of Novo Nordisk A/S in the fourth quarter worth approximately $404,910,000. Loomis Sayles & Co. L P increased its holdings in shares of Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after buying an additional 2,947,771 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its position in Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after purchasing an additional 2,639,693 shares in the last quarter. 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.