Novo Nordisk A/S (NYSE:NVO) Trading Up 0.4%

Novo Nordisk A/S (NYSE:NVOGet Free Report) shot up 0.4% on Wednesday . The company traded as high as $134.25 and last traded at $133.47. 1,146,372 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 4,741,260 shares. The stock had previously closed at $132.92.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVO. BMO Capital Markets began coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. UBS Group began coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating for the company. Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Get Our Latest Report on NVO

Novo Nordisk A/S Stock Performance

The company has a market cap of $604.20 billion, a P/E ratio of 46.43, a PEG ratio of 2.05 and a beta of 0.43. The company has a 50 day moving average price of $127.94 and a 200-day moving average price of $114.69. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cravens & Co Advisors LLC grew its stake in shares of Novo Nordisk A/S by 1.0% in the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares in the last quarter. Sage Rhino Capital LLC grew its stake in shares of Novo Nordisk A/S by 0.7% in the first quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after purchasing an additional 89 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Novo Nordisk A/S by 0.6% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after purchasing an additional 90 shares in the last quarter. Essex LLC grew its stake in shares of Novo Nordisk A/S by 2.0% in the first quarter. Essex LLC now owns 4,684 shares of the company’s stock worth $601,000 after purchasing an additional 90 shares in the last quarter. Finally, JCIC Asset Management Inc. boosted its stake in Novo Nordisk A/S by 0.3% during the first quarter. JCIC Asset Management Inc. now owns 27,552 shares of the company’s stock valued at $3,538,000 after buying an additional 90 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

(Get Free Report)

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.

Further Reading

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