Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Should You Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $83.34, but opened at $85.51. Novo Nordisk A/S shares last traded at $85.43, with a volume of 1,292,626 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NVO shares. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Stock Up 2.6 %

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 price is $101.94 and its 200-day moving average price is $120.27. The stock has a market cap of $383.55 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 1.37 and a beta of 0.45.

Institutional Trading of Novo Nordisk A/S

Large investors have recently bought and sold shares of the business. Range Financial Group LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $857,000. One Wealth Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $438,000. Diversified Trust Co grew its position in shares of Novo Nordisk A/S by 13.9% during the 4th quarter. Diversified Trust Co now owns 3,246 shares of the company’s stock worth $279,000 after buying an additional 395 shares during the period. Norman Fields Gottscho Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after acquiring an additional 19,870 shares in the last quarter. Finally, Doliver Advisors LP lifted its position in shares of Novo Nordisk A/S by 54.5% during the 4th quarter. Doliver Advisors LP now owns 16,225 shares of the company’s stock valued at $1,396,000 after acquiring an additional 5,721 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.