Novo Nordisk A/S (NYSE:NVO) Stock Price Up 3.5% - Here's Why

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price rose 3.5% during trading on Friday . The company traded as high as $67.44 and last traded at $67.15. Approximately 3,755,250 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 6,319,435 shares. The stock had previously closed at $64.85.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on NVO. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an "equal weight" rating on the stock. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a report on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $135.00.

Novo Nordisk A/S Trading Up 2.3 %

The stock has a market cap of $297.61 billion, a PE ratio of 20.16, a PEG ratio of 0.90 and a beta of 0.65. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $69.65 and a two-hundred day simple moving average of $86.58.

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 the consensus estimate of $0.92. The company had revenue of $11.87 billion during the quarter, compared to analysts' expectations of $79.17 billion. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the business. Diversified Trust Co raised its position in shares of Novo Nordisk A/S by 13.9% during the 4th quarter. Diversified Trust Co now owns 3,246 shares of the company's stock valued at $279,000 after purchasing an additional 395 shares during the period. First Hawaiian Bank increased its stake in Novo Nordisk A/S by 30.3% in the 4th quarter. First Hawaiian Bank now owns 22,259 shares of the company's stock worth $1,915,000 after acquiring an additional 5,171 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Novo Nordisk A/S by 181.7% during the 4th quarter. ORG Partners LLC now owns 1,003 shares of the company's stock worth $86,000 after acquiring an additional 647 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Novo Nordisk A/S by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 290,489 shares of the company's stock valued at $24,988,000 after acquiring an additional 1,051 shares during the last quarter. Finally, A. D. Beadell Investment Counsel Inc. increased its position in shares of Novo Nordisk A/S by 41.1% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 13,012 shares of the company's stock valued at $1,119,000 after purchasing an additional 3,787 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.