Novo Nordisk A/S (NYSE:NVO) Trading Up 7.8% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO) was up 7.8% on Friday . The company traded as high as $89.97 and last traded at $87.44. Approximately 14,081,104 shares traded hands during mid-day trading, an increase of 56% from the average daily volume of 9,046,912 shares. The stock had previously closed at $81.10.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NVO shares. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets reduced their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Up 8.1 %

The business has a fifty day simple moving average of $95.62 and a 200 day simple moving average of $115.55. The firm has a market cap of $393.59 billion, a price-to-earnings ratio of 28.39, a PEG ratio of 0.90 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 Investors Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the stock. Raymond James & Associates grew its position in Novo Nordisk A/S by 1.0% in the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after acquiring an additional 36,223 shares during the period. Natixis Advisors LLC grew its position in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the period. International Assets Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 10,608.4% during the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the period. DSM Capital Partners LLC boosted its position in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares during the period. Finally, LPL Financial LLC boosted its position in shares of Novo Nordisk A/S by 3.6% during the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after buying an additional 47,496 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.