Novo Nordisk A/S (NYSE:NVO) Trading Up 0.4%

Novo Nordisk A/S (NYSE:NVO) shares were up 0.4% during mid-day trading on Monday . The company traded as high as $123.77 and last traded at $123.50. Approximately 1,512,707 shares changed hands during trading, a decline of 69% from the average daily volume of 4,823,959 shares. The stock had previously closed at $123.05.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVO. UBS Group initiated coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. Finally, BMO Capital Markets assumed coverage on Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S Trading Down 0.5 %

The stock has a market cap of $568.61 billion, a P/E ratio of 43.69, a price-to-earnings-growth ratio of 1.93 and a beta of 0.43. The firm’s 50 day simple moving average is $127.33 and its two-hundred day simple moving average is $113.50. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently bought and sold shares of the business. Edmond DE Rothschild Holding S.A. bought a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $80,000. Cozad Asset Management Inc. increased its position in Novo Nordisk A/S by 8.2% in the first quarter. Cozad Asset Management Inc. now owns 16,418 shares of the company’s stock worth $2,108,000 after buying an additional 1,248 shares during the period. William Blair Investment Management LLC increased its position in Novo Nordisk A/S by 2.3% in the first quarter. William Blair Investment Management LLC now owns 53,423 shares of the company’s stock worth $6,860,000 after buying an additional 1,185 shares during the period. Financial & Tax Architects LLC acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at $379,000. Finally, Bleakley Financial Group LLC grew its position in shares of Novo Nordisk A/S by 22.8% during the first quarter. Bleakley Financial Group LLC now owns 152,093 shares of the company’s stock worth $19,529,000 after acquiring an additional 28,222 shares during the last quarter. Institutional investors and hedge funds 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.