Novo Nordisk A/S (NYSE:NVO) Stock Price Up 0.1% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price rose 0.1% during trading on Wednesday . The company traded as high as $81.80 and last traded at $81.15. Approximately 1,404,880 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 8,575,669 shares. The stock had previously closed at $81.03.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of analyst reports. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. 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. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BMO Capital Markets dropped their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Up 8.4 %

The stock has a 50-day simple moving average of $95.62 and a two-hundred day simple moving average of $115.55. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $394.65 billion, a PE ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of large investors have recently added to or reduced their stakes in the company. First Dallas Securities Inc. raised its position in Novo Nordisk A/S by 17.4% during the fourth quarter. First Dallas Securities Inc. now owns 5,654 shares of the company’s stock valued at $486,000 after purchasing an additional 838 shares in the last quarter. Caas Capital Management LP increased its holdings in shares of Novo Nordisk A/S by 52.8% in the fourth quarter. Caas Capital Management LP now owns 11,000 shares of the company’s stock worth $946,000 after buying an additional 3,800 shares during the period. abrdn plc increased its holdings in shares of Novo Nordisk A/S by 12.0% in the fourth quarter. abrdn plc now owns 260,169 shares of the company’s stock worth $22,304,000 after buying an additional 27,784 shares during the period. Fourpath Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 10.2% in the fourth quarter. Fourpath Capital Management LLC now owns 3,306 shares of the company’s stock worth $284,000 after buying an additional 306 shares during the period. Finally, Optas LLC increased its holdings in shares of Novo Nordisk A/S by 10.9% in the fourth quarter. Optas LLC now owns 6,259 shares of the company’s stock worth $538,000 after buying an additional 614 shares during the period. Hedge funds and other 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.