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

Novo Nordisk A/S (NYSE:NVO) was up 0.4% during trading on Wednesday . The company traded as high as $129.24 and last traded at $128.82. Approximately 1,597,565 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 4,760,968 shares. The stock had previously closed at $128.31.

Analysts Set New Price Targets

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

Novo Nordisk A/S Stock Up 0.6 %

The firm has a market capitalization of $579.12 billion, a PE ratio of 47.62, a PEG ratio of 2.12 and a beta of 0.41. The company has a fifty day moving average price of $127.05 and a 200-day moving average price of $112.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. As a group, analysts expect that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Large investors have recently modified their holdings of the stock. Westside Investment Management Inc. increased its position in shares of Novo Nordisk A/S by 83.3% during the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock valued at $130,000 after purchasing an additional 649 shares during the last quarter. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in Novo Nordisk A/S in the 3rd quarter valued at $2,408,000. Lazard Asset Management LLC grew its position in Novo Nordisk A/S by 182.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock valued at $135,883,000 after acquiring an additional 964,640 shares during the last quarter. CENTRAL TRUST Co grew its position in Novo Nordisk A/S by 111.6% in the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock valued at $546,000 after acquiring an additional 3,166 shares during the last quarter. Finally, Ieq Capital LLC grew its position in Novo Nordisk A/S by 136.6% in the 3rd quarter. Ieq Capital LLC now owns 27,474 shares of the company’s stock valued at $2,498,000 after acquiring an additional 15,860 shares during the last quarter. 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.