Novo Nordisk A/S (NYSE:NVO) Trading 1.5% Higher - What's Next?

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price was up 1.5% during mid-day trading on Friday . The stock traded as high as $68.94 and last traded at $68.72. Approximately 1,955,244 shares traded hands during trading, a decline of 73% from the average daily volume of 7,189,506 shares. The stock had previously closed at $67.70.

Wall Street Analysts Forecast Growth

NVO has been the subject of several recent research reports. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Guggenheim downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Finally, Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $112.00.

Novo Nordisk A/S Stock Performance

The stock's 50-day moving average price is $68.90 and its 200 day moving average price is $77.56. The company has a quick ratio of 0.56, a current ratio of 0.74 and a debt-to-equity ratio of 0.70. The company has a market cap of $306.21 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.20 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.52% and a return on equity of 80.94%. The firm had revenue of $11.87 billion for the quarter. As a group, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL grew its stake in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 184.8% during the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after purchasing an additional 255 shares during the period. North Capital Inc. acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at about $27,000. Park Square Financial Group LLC bought a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $29,000. Finally, Stone House Investment Management LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $30,000. Institutional investors and hedge funds 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.

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