Novo Nordisk A/S (NVO) Sees Strong Trading Volume
Novo Nordisk A/S (NYSE:NVO) saw unusually-strong trading volume on Tuesday . Approximately 2,207,511 shares were traded during mid-day trading, an increase of 111% from the previous session’s volume of 1,046,511 shares.The stock last traded at $55.84 and had previously closed at $57.05.
A number of research analysts have recently issued reports on NVO shares. Goldman Sachs Group Inc. downgraded shares of Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, June 28th. Zacks Investment Research raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research report on Tuesday, May 3rd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $61.00.
The company has a market cap of $142.46 billion and a P/E ratio of 28.02. The firm has a 50 day moving average of $54.16 and a 200-day moving average of $54.31.
Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. On average, analysts expect that Novo Nordisk A/S will post $2.25 earnings per share for the current year.
A number of large investors have added to or reduced their stakes in NVO. Rhumbline Advisers increased its stake in Novo Nordisk A/S by 5.6% in the fourth quarter. Rhumbline Advisers now owns 20,800 shares of the company’s stock worth $1,208,000 after buying an additional 1,100 shares during the period. Morgan Stanley increased its stake in Novo Nordisk A/S by 7.1% in the fourth quarter. Morgan Stanley now owns 1,187,053 shares of the company’s stock worth $68,945,000 after buying an additional 79,104 shares during the period. Bank of Montreal Can increased its stake in Novo Nordisk A/S by 16.1% in the fourth quarter. Bank of Montreal Can now owns 64,142 shares of the company’s stock worth $3,726,000 after buying an additional 8,892 shares during the period. Deere & Co. increased its stake in Novo Nordisk A/S by 1.3% in the fourth quarter. Deere & Co. now owns 31,581 shares of the company’s stock worth $1,834,000 after buying an additional 404 shares during the period. Finally, Hartline Investment Corp increased its stake in Novo Nordisk A/S by 13.9% in the fourth quarter. Hartline Investment Corp now owns 100,437 shares of the company’s stock worth $5,833,000 after buying an additional 12,242 shares during the period.
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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