Novo Nordisk A/S (NYSE:NVO) Sees Unusually-High Trading Volume

Novo Nordisk A/S (NYSE:NVO – Get Rating) shares saw unusually-strong trading volume on Monday . Approximately 2,033,579 shares were traded during mid-day trading, an increase of 44% from the previous session’s volume of 1,407,737 shares.The stock last traded at $170.09 and had previously closed at $170.54.

Analyst Ratings Changes

NVO has been the subject of a number of analyst reports. Credit Suisse Group upgraded Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 13th. StockNews.com assumed coverage on shares of Novo Nordisk A/S in a report on Thursday, May 18th. They issued a “strong-buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $383.33.

Novo Nordisk A/S Trading Down 4.1 %

The company has a market capitalization of $369.95 billion, a price-to-earnings ratio of 43.02, a P/E/G ratio of 1.62 and a beta of 0.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.86 and a quick ratio of 0.67. The business’s 50-day moving average price is $161.72 and its two-hundred day moving average price is $143.13.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC increased its holdings in Novo Nordisk A/S by 45.1% in the 4th quarter. Clearbridge Investments LLC now owns 1,426,816 shares of the company’s stock valued at $193,105,000 after buying an additional 443,609 shares during the period. Resonant Capital Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $258,000. Westside Investment Management Inc. grew its holdings in shares of Novo Nordisk A/S by 46.5% during the 4th quarter. Westside Investment Management Inc. now owns 879 shares of the company’s stock valued at $118,000 after purchasing an additional 279 shares during the last quarter. Brookstone Capital Management increased its position in Novo Nordisk A/S by 6.1% during the 4th quarter. Brookstone Capital Management now owns 8,304 shares of the company’s stock worth $1,151,000 after purchasing an additional 479 shares in the last quarter. Finally, Old North State Trust LLC bought a new position in Novo Nordisk A/S in the 3rd quarter valued at approximately $41,000. Institutional investors own 6.09% of the company’s stock.

About Novo Nordisk A/S

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Novo Nordisk A/S is a global healthcare company, which engages in the the discovery, development, manufacturing and marketing of pharmaceutical products. It operates through the Diabetes and Obesity Care, and Biopharm segments. The Diabetes and Obesity Care segment includes insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD), obesity, and other serious chronic diseases.