Novo Nordisk A/S (NYSE:NVO) Stock Price Up 4.7% - Here's What Happened

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price was up 4.7% on Tuesday . The stock traded as high as $71.30 and last traded at $70.52. Approximately 4,494,469 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 6,693,857 shares. The stock had previously closed at $67.35.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NVO shares. BMO Capital Markets reaffirmed a "market perform" rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an "equal weight" rating for the company. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" 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, five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of "Moderate Buy" and an average target price of $135.00.

Novo Nordisk A/S Trading Down 2.0%

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 has a market capitalization of $309.93 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.90 and a beta of 0.65. The business has a 50 day simple moving average of $65.91 and a 200-day simple moving average of $82.38.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The firm had revenue of $11.87 billion during the quarter. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. M. Kulyk & Associates LLC raised its holdings in shares of Novo Nordisk A/S by 3.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock valued at $274,000 after purchasing an additional 119 shares during the last quarter. Center for Financial Planning Inc. raised its holdings in shares of 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 last quarter. Tradewinds Capital Management LLC boosted its position in Novo Nordisk A/S by 2.6% during the fourth quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company's stock valued at $429,000 after purchasing an additional 124 shares during the last quarter. Exencial Wealth Advisors LLC boosted its position in Novo Nordisk A/S by 0.5% during the fourth quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company's stock valued at $1,987,000 after purchasing an additional 124 shares during the last quarter. Finally, Indie Asset Partners LLC boosted its position in Novo Nordisk A/S by 4.2% during the fourth quarter. Indie Asset Partners LLC now owns 3,128 shares of the company's stock valued at $269,000 after purchasing an additional 126 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

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.