Novo Nordisk A/S (NYSE:NVO) Shares Up 1.5% - Here's What Happened

Novo Nordisk A/S (NYSE:NVO - Get Free Report) rose 1.5% during mid-day trading on Monday . The company traded as high as $72.60 and last traded at $72.56. Approximately 11,654,358 shares changed hands during trading, an increase of 71% from the average daily volume of 6,822,898 shares. The stock had previously closed at $71.50.

Wall Street Analysts Forecast Growth

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

Novo Nordisk A/S Price Performance

The company has a market capitalization of $318.17 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock's 50 day simple moving average is $65.62 and its 200-day simple moving average is $81.15.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts' consensus estimates of $0.92. The firm had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, equities analysts forecast 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 large investors have recently modified their holdings of NVO. Invst LLC acquired a new position in Novo Nordisk A/S during the 1st quarter worth $466,000. Modern Wealth Management LLC acquired a new position in shares of Novo Nordisk A/S during the first quarter worth about $414,000. Rhumbline Advisers grew its position in shares of Novo Nordisk A/S by 10.2% during the first quarter. Rhumbline Advisers now owns 63,539 shares of the company's stock worth $4,412,000 after buying an additional 5,898 shares in the last quarter. Jacobi Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 61.7% during the first quarter. Jacobi Capital Management LLC now owns 13,324 shares of the company's stock worth $925,000 after buying an additional 5,084 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Novo Nordisk A/S by 15,919.9% in the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock valued at $72,523,000 after acquiring an additional 1,038,137 shares in 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.