Novo Nordisk A/S (NYSE:NVO) Trading 0.6% Higher

Novo Nordisk A/S (NYSE:NVO) shares traded up 0.6% during trading on Wednesday . The company traded as high as $141.34 and last traded at $141.24. 774,376 shares traded hands during trading, a decline of 83% from the average session volume of 4,435,379 shares. The stock had previously closed at $140.43.

Wall Street Analyst Weigh In

NVO has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, July 1st. Argus boosted their target price 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. Finally, BMO Capital Markets reissued 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. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Performance

The stock has a market cap of $627.31 billion, a price-to-earnings ratio of 48.20, a PEG ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The firm has a fifty day simple moving average of $137.68 and a 200 day simple moving average of $125.97.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The firm had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.43 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors have recently added to or reduced their stakes in the stock. Folketrygdfondet boosted its stake in Novo Nordisk A/S by 1.4% in the 1st quarter. Folketrygdfondet now owns 8,756,034 shares of the company’s stock valued at $1,124,275,000 after buying an additional 124,770 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after purchasing an additional 823,036 shares in the last quarter. Capital International Investors grew its holdings in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after purchasing an additional 1,297,536 shares during the last quarter. GQG Partners LLC increased its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after purchasing an additional 3,151,584 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Novo Nordisk A/S by 12.1% during the 1st quarter. Raymond James & Associates now owns 3,143,731 shares of the company’s stock valued at $403,655,000 after purchasing an additional 340,549 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

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.