Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) gapped up prior to trading on Monday . The stock had previously closed at $85.00, but opened at $88.87. Novo Nordisk A/S shares last traded at $88.06, with a volume of 5,108,174 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NVO shares. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Saturday. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Trading Up 2.1 %

The company has a fifty day simple moving average of $109.01 and a two-hundred day simple moving average of $125.06. 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 company has a market cap of $389.43 billion, a PE ratio of 28.08, a P/E/G ratio of 1.37 and a beta of 0.40.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S during the 2nd quarter worth about $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $28,000. Abound Wealth Management grew its position in shares of Novo Nordisk A/S by 257.4% in the 2nd quarter. Abound Wealth Management now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 157 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth about $42,000. Finally, Carolina Wealth Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $48,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.