Novo Nordisk A/S (NYSE:NVO) Shares Up 2.1%

Novo Nordisk A/S (NYSE:NVO)’s share price was up 2.1% during trading on Tuesday . The company traded as high as $127.42 and last traded at $127.23. Approximately 1,233,145 shares changed hands during trading, a decline of 74% from the average daily volume of 4,806,679 shares. The stock had previously closed at $124.59.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Price Performance

The business’s fifty day simple moving average is $127.22 and its 200-day simple moving average is $113.29. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The firm has a market cap of $571.22 billion, a P/E ratio of 43.87, a PEG ratio of 1.93 and a beta of 0.43.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Pacific Center for Financial Services increased its stake in Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. First PREMIER Bank purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $25,000. Bell Investment Advisors Inc boosted its position in Novo Nordisk A/S by 79.9% during the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the period. CNB Bank purchased a new stake in Novo Nordisk A/S during the fourth quarter valued at about $26,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S during the first quarter valued at about $26,000. 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.