Novo Nordisk A/S (NYSE:NVO) Trading Up 5% – Still a Buy?

Novo Nordisk A/S (NYSE:NVO) traded up 5% on Thursday . The stock traded as high as $62.44 and last traded at $62.28. 20,171,422 shares were traded during trading, a decline of 17% from the average session volume of 24,431,426 shares. The stock had previously closed at $59.32.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Jefferies Financial Group assumed coverage on Novo Nordisk A/S in a research note on Monday, October 27th. They issued an “underperform” rating for the company. Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Novo Nordisk A/S in a report on Thursday. Finally, BMO Capital Markets restated a “market perform” rating on shares of Novo Nordisk A/S in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.21.

Novo Nordisk A/S Price Performance

The company has a market capitalization of $278.08 billion, a PE ratio of 18.10 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The stock has a 50 day moving average price of $51.59 and a two-hundred day moving average price of $54.80.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. The firm had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of the business. True Wealth Design LLC raised its holdings in Novo Nordisk A/S by 209.8% during the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after buying an additional 300 shares in the last quarter. NewSquare Capital LLC raised its stake in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 282 shares in the last quarter. Guerra Advisors Inc bought a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in Novo Nordisk A/S in the 3rd quarter worth approximately $30,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.