Novo Nordisk A/S (NYSE:NVO) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Novo Nordisk A/S (NYSE:NVO) saw unusually-strong trading volume on Tuesday . Approximately 1,744,967 shares were traded during trading, a decline of 61% from the previous session’s volume of 4,496,476 shares.The stock last traded at $106.68 and had previously closed at $104.56.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Down 0.0 %

The stock has a market cap of $476.22 billion, a P/E ratio of 34.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock’s 50-day moving average is $113.80 and its 200-day moving average is $128.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVO. Envestnet Asset Management Inc. boosted its holdings in Novo Nordisk A/S by 1.4% during the second quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after buying an additional 58,935 shares in the last quarter. Raymond James & Associates lifted its position in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after acquiring an additional 36,223 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. Finally, DSM Capital Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares during the last quarter. Institutional investors and hedge funds 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.