Novo Nordisk A/S (NYSE:NVO) Stock Price Up 1.6% - Still a Buy?

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) rose 1.6% during trading on Friday . The stock traded as high as $70.32 and last traded at $70.56. Approximately 2,901,013 shares traded hands during trading, a decline of 57% from the average daily volume of 6,739,662 shares. The stock had previously closed at $69.46.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent analyst reports. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating on the stock. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Finally, Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $128.00.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a market capitalization of $320.41 billion, a P/E ratio of 21.70, a P/E/G ratio of 0.90 and a beta of 0.65. The business's fifty day simple moving average is $65.58 and its 200-day simple moving average is $81.77.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The firm had revenue of $11.87 billion for the quarter. As a group, equities 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 large investors have recently made changes to their positions in NVO. Nisa Investment Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 36.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the company's stock worth $129,000 after buying an additional 400 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after buying an additional 200 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in Novo Nordisk A/S by 70.3% during the 4th quarter. SteelPeak Wealth LLC now owns 7,801 shares of the company's stock valued at $671,000 after purchasing an additional 3,220 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in Novo Nordisk A/S during the 4th quarter valued at about $341,000. Finally, Gries Financial LLC grew its holdings in Novo Nordisk A/S by 31.0% during the 4th quarter. Gries Financial LLC now owns 3,490 shares of the company's stock valued at $300,000 after purchasing an additional 826 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

About Novo Nordisk A/S

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.