Novo Nordisk A/S (NYSE:NVO) Stock Price Up 4.7% – Time to Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price shot up 4.7% on Tuesday . The company traded as high as $71.30 and last traded at $70.52. 4,494,469 shares traded hands during trading, a decline of 33% from the average session volume of 6,693,857 shares. The stock had previously closed at $67.35.

Analyst Ratings Changes

A number of brokerages recently commented on NVO. Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Hsbc Global Res raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, April 28th. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Finally, BNP Paribas started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They set an “underperform” rating for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $135.00.

Novo Nordisk A/S Stock Performance

The business’s 50-day moving average price is $66.07 and its 200-day moving average price is $82.47. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock has a market cap of $315.69 billion, a PE ratio of 21.38, a P/E/G ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion for the quarter. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 36.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $129,000 after purchasing an additional 400 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in shares of Novo Nordisk A/S by 25.7% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 3,555 shares of the company’s stock valued at $306,000 after purchasing an additional 726 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Novo Nordisk A/S by 7.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 18,327 shares of the company’s stock valued at $1,576,000 after purchasing an additional 1,302 shares during the period. Novare Capital Management LLC lifted its position in Novo Nordisk A/S by 25.6% in the fourth quarter. Novare Capital Management LLC now owns 3,424 shares of the company’s stock valued at $295,000 after buying an additional 697 shares during the last quarter. Finally, Stablepoint Partners LLC lifted its position in Novo Nordisk A/S by 5.2% in the fourth quarter. Stablepoint Partners LLC now owns 12,068 shares of the company’s stock valued at $1,038,000 after buying an additional 600 shares during the last quarter. 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.