Novo Nordisk A/S (NYSE:NVO) Trading 1.5% Higher

Novo Nordisk A/S (NYSE:NVO)’s stock price traded up 1.5% on Monday . The company traded as high as $144.94 and last traded at $144.94. 963,791 shares traded hands during trading, a decline of 78% from the average session volume of 4,418,987 shares. The stock had previously closed at $142.74.

Analyst Ratings Changes

NVO has been the subject of a number of research reports. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Stock Performance

The stock’s fifty day simple moving average is $135.40 and its two-hundred day simple moving average is $124.04. The company has a market cap of $641.72 billion, a price-to-earnings ratio of 49.31, a price-to-earnings-growth ratio of 1.42 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.41 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Morgan Stanley grew its holdings in Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after acquiring an additional 4,526,199 shares in the last quarter. Folketrygdfondet raised its stake in Novo Nordisk A/S by 1.4% during the first quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after buying an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after buying an additional 823,036 shares in the last quarter. Capital International Investors grew its position in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Novo Nordisk A/S by 109.2% in the 3rd quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock valued at $331,300,000 after acquiring an additional 1,901,429 shares during the last quarter. 11.54% of the stock is 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.