Novo Nordisk A/S (NYSE:NVO) Stock Price Up 0.1% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO) shares were up 0.1% during trading on Wednesday . The company traded as high as $81.80 and last traded at $81.15. Approximately 1,404,880 shares traded hands during trading, a decline of 84% from the average daily volume of 8,575,669 shares. The stock had previously closed at $81.03.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NVO shares. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Price Performance

The business has a fifty day simple moving average of $95.62 and a two-hundred day simple moving average of $115.55. 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 has a market cap of $394.65 billion, a PE ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45.

Institutional Trading of Novo Nordisk A/S

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. First Dallas Securities Inc. grew its stake in shares of Novo Nordisk A/S by 17.4% in the 4th quarter. First Dallas Securities Inc. now owns 5,654 shares of the company’s stock worth $486,000 after buying an additional 838 shares during the last quarter. Caas Capital Management LP grew its stake in shares of Novo Nordisk A/S by 52.8% in the 4th quarter. Caas Capital Management LP now owns 11,000 shares of the company’s stock worth $946,000 after buying an additional 3,800 shares during the last quarter. abrdn plc grew its stake in shares of Novo Nordisk A/S by 12.0% in the 4th quarter. abrdn plc now owns 260,169 shares of the company’s stock worth $22,304,000 after buying an additional 27,784 shares during the last quarter. Fourpath Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 10.2% in the 4th quarter. Fourpath Capital Management LLC now owns 3,306 shares of the company’s stock worth $284,000 after buying an additional 306 shares during the last quarter. Finally, Optas LLC grew its stake in shares of Novo Nordisk A/S by 10.9% in the 4th quarter. Optas LLC now owns 6,259 shares of the company’s stock worth $538,000 after buying an additional 614 shares during the last quarter. Hedge funds and other institutional investors 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.