Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Still a Buy?

Novo Nordisk A/S (NYSE:NVO) shares gapped up prior to trading on Friday . The stock had previously closed at $81.10, but opened at $89.97. Novo Nordisk A/S shares last traded at $87.64, with a volume of 9,951,988 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVO shares. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. BMO Capital Markets lowered their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Performance

The company has a fifty day moving average of $95.35 and a 200 day moving average of $115.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market cap of $394.65 billion, a P/E ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45.

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $25,000. Daiwa Securities Group Inc. acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in Novo Nordisk A/S during the third quarter valued at approximately $42,000. Albion Financial Group UT increased its stake in Novo Nordisk A/S by 121.4% in the 4th quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after buying an additional 278 shares during the period. Finally, Sound Income Strategies LLC lifted its position in Novo Nordisk A/S by 82.1% in the 4th quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after buying an additional 243 shares in the last quarter. 11.54% of the stock is currently owned by 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.