Novo Nordisk A/S (NYSE:NVO) Trading 0.4% Higher – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s stock price shot up 0.4% on Thursday . The stock traded as high as $81.43 and last traded at $80.86. 1,710,374 shares changed hands during trading, a decline of 80% from the average session volume of 8,405,317 shares. The stock had previously closed at $80.57.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, BMO Capital Markets cut their price objective 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. One 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Trading Up 8.4 %

The company has a market cap of $394.65 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The company’s 50 day moving average price is $95.35 and its 200 day moving average price is $115.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Institutional Trading of Novo Nordisk A/S

Several large investors have recently made changes to their positions in NVO. International Assets Investment Management LLC boosted its position in 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 purchasing an additional 1,796,635 shares during the period. Mediolanum International Funds Ltd acquired a new position in Novo Nordisk A/S in the 3rd quarter valued at $98,765,000. DAVENPORT & Co LLC raised its holdings in Novo Nordisk A/S by 75.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock worth $90,477,000 after acquiring an additional 451,641 shares during the period. Wellington Management Group LLP acquired a new position in Novo Nordisk A/S during the 3rd quarter worth $42,017,000. Finally, Sanctuary Advisors LLC bought a new stake in Novo Nordisk A/S during the second quarter valued at about $41,646,000. Institutional investors 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.