Novo Nordisk A/S (NYSE:NVO) Trading Up 1.3%

Novo Nordisk A/S (NYSE:NVO) shares shot up 1.3% on Friday . The stock traded as high as $133.50 and last traded at $131.70. 1,168,219 shares traded hands during trading, a decline of 74% from the average session volume of 4,437,001 shares. The stock had previously closed at $129.99.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, July 1st. BMO Capital Markets reiterated 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. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Argus upped their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Two investment 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 stock. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $592.98 billion, a price-to-earnings ratio of 45.41, a P/E/G ratio of 1.35 and a beta of 0.41. The company has a fifty day moving average price of $138.87 and a two-hundred day moving average price of $127.18.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. On average, equities research analysts expect that Novo Nordisk A/S will post 3.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NVO. Cravens & Co Advisors LLC increased its stake in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after acquiring an additional 85 shares during the period. AA Financial Advisors LLC increased its position in Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares during the period. Sage Rhino Capital LLC increased its position in Novo Nordisk A/S by 0.7% during the 1st 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 during the period. U.S. Capital Wealth Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 0.6% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock valued at $1,595,000 after buying an additional 90 shares during the period. Finally, Essex LLC lifted its holdings in shares of Novo Nordisk A/S by 2.0% in the 1st quarter. Essex LLC now owns 4,684 shares of the company’s stock valued at $601,000 after buying an additional 90 shares during the period. 11.54% of the stock is currently 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.