Novo Nordisk A/S (NYSE:NVO) Shares Up 2.1%

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price was up 2.1% on Tuesday . The stock traded as high as $127.42 and last traded at $127.23. Approximately 1,233,145 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 4,806,679 shares. The stock had previously closed at $124.59.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVO. Cantor Fitzgerald restated an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. UBS Group began coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a "neutral" rating on the stock. BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an "outperform" rating and a $163.00 target price for the company. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They issued an "overweight" rating and a $120.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Moderate Buy" and an average price target of $133.60.

Novo Nordisk A/S Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The company has a market cap of $571.17 billion, a P/E ratio of 43.89, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43. The company has a 50 day moving average price of $127.33 and a 200-day moving average price of $113.50.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the stock. Cravens & Co Advisors LLC grew its stake in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company's stock worth $1,059,000 after buying an additional 85 shares during the last quarter. Sage Rhino Capital LLC boosted its holdings in shares of Novo Nordisk A/S by 0.7% during the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company's stock valued at $1,582,000 after acquiring an additional 89 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its position in Novo Nordisk A/S by 0.6% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company's stock worth $1,595,000 after acquiring an additional 90 shares during the last quarter. Essex LLC increased its holdings in Novo Nordisk A/S by 2.0% in the 1st quarter. Essex LLC now owns 4,684 shares of the company's stock worth $601,000 after purchasing an additional 90 shares in the last quarter. Finally, JCIC Asset Management Inc. raised its position in Novo Nordisk A/S by 0.3% in the first quarter. JCIC Asset Management Inc. now owns 27,552 shares of the company's stock valued at $3,538,000 after purchasing an additional 90 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.