Novo Nordisk A/S (NYSE:NVO – Get Free Report)’s share price rose 0% on Tuesday . The stock traded as high as $142.23 and last traded at $141.40. Approximately 552,564 shares changed hands during trading, a decline of 87% from the average daily volume of 4,391,869 shares. The stock had previously closed at $141.39.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Argus raised their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, July 1st. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.67.
Novo Nordisk A/S Stock Performance
The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The firm’s 50 day moving average is $138.39 and its 200-day moving average is $126.84. The company has a market cap of $632.16 billion, a PE ratio of 48.76, a PEG ratio of 1.41 and a beta of 0.41.
Novo Nordisk A/S (NYSE:NVO – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.43 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Novo Nordisk A/S
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC increased its holdings in shares of Novo Nordisk A/S by 5.2% in the 2nd quarter. V Square Quantitative Management LLC now owns 7,280 shares of the company’s stock valued at $1,061,000 after acquiring an additional 361 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in Novo Nordisk A/S by 4.5% in the second quarter. Great Valley Advisor Group Inc. now owns 36,856 shares of the company’s stock valued at $5,261,000 after purchasing an additional 1,571 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Novo Nordisk A/S by 22.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 252,092 shares of the company’s stock worth $35,984,000 after purchasing an additional 46,394 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of Novo Nordisk A/S by 2.2% during the 2nd quarter. NorthCrest Asset Manangement LLC now owns 10,837 shares of the company’s stock worth $1,547,000 after buying an additional 232 shares during the last quarter. Finally, AA Financial Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after buying an additional 86 shares in 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.