Novo Nordisk A/S (NYSE:NVO) Trading 1.7% Higher – Still a Buy?

Novo Nordisk A/S (NYSE:NVO)’s stock price shot up 1.7% during mid-day trading on Tuesday . The stock traded as high as $80.30 and last traded at $80.05. 2,673,411 shares were traded during mid-day trading, a decline of 69% from the average session volume of 8,707,202 shares. The stock had previously closed at $78.69.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets lowered their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One analyst has 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.com, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Price Performance

The company has a fifty day simple moving average of $96.10 and a 200-day simple moving average of $115.79. The company has a market cap of $365.09 billion, a P/E ratio of 26.33, a PEG ratio of 0.89 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently bought and sold shares of the stock. Novare Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after acquiring an additional 85 shares during the period. Rosenberg Matthew Hamilton boosted its position in shares of Novo Nordisk A/S by 2.5% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after acquiring an additional 94 shares in the last quarter. Burns J W & Co. Inc. NY grew its stake in shares of Novo Nordisk A/S by 1.9% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares during the period. Spinnaker Trust grew its position in Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after acquiring an additional 100 shares during the period. Finally, Marco Investment Management LLC increased its position in shares of Novo Nordisk A/S by 1.5% during the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.