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

Novo Nordisk A/S (NYSE:NVO) rose 1.7% during mid-day trading on Tuesday . The company traded as high as $80.30 and last traded at $80.05. Approximately 2,673,411 shares changed hands during trading, a decline of 69% from the average daily volume of 8,707,202 shares. The stock had previously closed at $78.69.

Analyst Ratings Changes

A number of research analysts recently commented on NVO shares. BMO Capital Markets decreased their price target 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. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. One investment 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, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Trading Up 2.7 %

The stock has a market capitalization of $362.55 billion, a P/E ratio of 26.16, a P/E/G ratio of 0.84 and a beta of 0.45. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $97.15 and a two-hundred day moving average price of $116.47.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently bought and sold shares of NVO. Hsbc Holdings PLC boosted its position in shares of Novo Nordisk A/S by 19.4% during the 2nd quarter. Hsbc Holdings PLC now owns 54,804 shares of the company’s stock worth $7,852,000 after acquiring an additional 8,922 shares in the last quarter. AE Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 161.5% in the 2nd quarter. AE Wealth Management LLC now owns 19,319 shares of the company’s stock valued at $2,758,000 after purchasing an additional 11,930 shares during the last quarter. Epoch Investment Partners Inc. lifted its position in shares of Novo Nordisk A/S by 4.5% during the 2nd quarter. Epoch Investment Partners Inc. now owns 14,132 shares of the company’s stock worth $2,017,000 after buying an additional 614 shares during the last quarter. Gabelli Funds LLC boosted its stake in Novo Nordisk A/S by 35.7% in the second quarter. Gabelli Funds LLC now owns 46,963 shares of the company’s stock valued at $6,703,000 after buying an additional 12,363 shares in the last quarter. Finally, DRW Securities LLC bought a new position in Novo Nordisk A/S in the second quarter valued at about $1,298,000. Institutional investors own 11.54% of the company’s stock.

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.