Novo Nordisk A/S (NYSE:NVO) Trading Up 0.2%

Novo Nordisk A/S (NYSE:NVO)’s stock price was up 0.2% during mid-day trading on Friday . The stock traded as high as $145.59 and last traded at $144.74. Approximately 433,317 shares were traded during trading, a decline of 90% from the average daily volume of 4,429,771 shares. The stock had previously closed at $144.49.

Analyst Ratings Changes

A number of equities analysts recently commented on NVO shares. The Goldman Sachs Group started 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. Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Price Performance

The firm has a market capitalization of $640.55 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 1.44 and a beta of 0.41. The firm has a 50 day moving average price of $135.00 and a 200-day moving average price of $123.54. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

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

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently modified their holdings of NVO. Pacific Center for Financial Services raised its holdings in shares of Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after buying an additional 135 shares during the period. First PREMIER Bank purchased a new position in Novo Nordisk A/S during the 1st quarter worth $25,000. CNB Bank purchased a new position in Novo Nordisk A/S during the 4th quarter worth $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the 1st quarter worth $26,000. Finally, Orion Capital Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter worth $26,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.