Novo Nordisk A/S (NYSE:NVO) Trading Up 0.9%

Novo Nordisk A/S (NYSE:NVOGet Free Report)’s share price was up 0.9% during trading on Monday . The stock traded as high as $143.69 and last traded at $143.60. Approximately 715,390 shares traded hands during trading, a decline of 84% from the average daily volume of 4,445,592 shares. The stock had previously closed at $142.37.

Analysts Set New Price Targets

Several analysts have commented on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, 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 research report on Monday, June 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Read Our Latest Analysis on NVO

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The stock’s 50-day moving average is $137.09 and its 200 day moving average is $125.76. The firm has a market cap of $640.57 billion, a P/E ratio of 48.70, a PEG ratio of 1.41 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. On average, research analysts predict that Novo Nordisk A/S will post 3.43 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Belpointe Asset Management LLC boosted its stake in Novo Nordisk A/S by 28.8% in the 3rd quarter. Belpointe Asset Management LLC now owns 2,232 shares of the company’s stock worth $203,000 after purchasing an additional 499 shares during the period. Harbour Investments Inc. boosted its stake in Novo Nordisk A/S by 99.9% in the 3rd quarter. Harbour Investments Inc. now owns 6,556 shares of the company’s stock worth $596,000 after purchasing an additional 3,277 shares during the period. Integrated Advisors Network LLC acquired a new position in Novo Nordisk A/S in the 3rd quarter worth $492,000. Diversified Trust Co boosted its stake in shares of Novo Nordisk A/S by 111.0% during the 3rd quarter. Diversified Trust Co now owns 7,563 shares of the company’s stock worth $688,000 after buying an additional 3,978 shares during the last quarter. Finally, Spears Abacus Advisors LLC acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth about $202,000. 11.54% of the stock is owned by institutional investors and hedge funds.

About Novo Nordisk A/S

(Get Free Report)

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.

Further Reading

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