Novo Nordisk A/S (NYSE:NVO) Trading Up 1.5%

Novo Nordisk A/S (NYSE:NVO)’s stock price shot up 1.5% on Monday . The company traded as high as $144.94 and last traded at $144.94. 963,791 shares changed hands during trading, a decline of 78% from the average session volume of 4,418,987 shares. The stock had previously closed at $142.74.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVO. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Argus upped their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets restated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Price Performance

The business has a fifty day moving average of $135.00 and a 200-day moving average of $123.71. The firm has a market cap of $653.03 billion, a PE ratio of 50.01, a PEG ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.41 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently modified their holdings of NVO. Morgan Stanley raised its holdings in shares of Novo Nordisk A/S by 96.5% during the 3rd quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after buying an additional 4,526,199 shares in the last quarter. GQG Partners LLC grew its position in Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. Royal Bank of Canada grew its position in Novo Nordisk A/S by 109.2% during the 3rd quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after acquiring an additional 1,901,429 shares during the last quarter. Capital International Investors grew its position in Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after acquiring an additional 1,297,536 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after acquiring an additional 1,155,313 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.