Novo Nordisk A/S (NYSE:NVO) Trading 2.8% Higher - What's Next?

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was up 2.8% on Monday . The company traded as high as $66.14 and last traded at $66.17. Approximately 4,193,047 shares were traded during mid-day trading, a decline of 36% from the average daily volume of 6,570,533 shares. The stock had previously closed at $64.37.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BNP Paribas started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an "underperform" rating for the company. 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. Guggenheim cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an "equal weight" rating on the stock. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $135.00.

Novo Nordisk A/S Price Performance

The company's 50-day simple moving average is $67.31 and its 200 day simple moving average is $84.19. 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 cap of $300.49 billion, a PE ratio of 20.35, a PEG ratio of 0.90 and a beta of 0.65.

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. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The business had revenue of $11.87 billion for the quarter. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several large investors have recently modified their holdings of the stock. Grassi Investment Management purchased a new stake in Novo Nordisk A/S during the fourth quarter worth about $215,000. Hennion & Walsh Asset Management Inc. increased its stake in shares of Novo Nordisk A/S by 9.4% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 19,742 shares of the company's stock worth $1,698,000 after purchasing an additional 1,701 shares in the last quarter. Merit Financial Group LLC increased its position in Novo Nordisk A/S by 121.4% during the fourth quarter. Merit Financial Group LLC now owns 19,240 shares of the company's stock worth $1,655,000 after buying an additional 10,550 shares in the last quarter. Sax Wealth Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the fourth quarter worth $382,000. Finally, Brooklyn Investment Group lifted its position in shares of Novo Nordisk A/S by 1,634.3% in the fourth quarter. Brooklyn Investment Group now owns 2,931 shares of the company's stock valued at $252,000 after acquiring an additional 2,762 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.

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