Novo Nordisk A/S (NYSE:NVO) Trading 0.1% Higher – Time to Buy?

Novo Nordisk A/S (NYSE:NVO)’s stock price rose 0.1% on Wednesday . The stock traded as high as $81.80 and last traded at $81.15. 1,404,880 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 8,575,669 shares. The stock had previously closed at $81.03.

Analyst Ratings Changes

Several equities analysts recently commented on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets reduced their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Trading Down 0.3 %

The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average of $96.63 and a two-hundred day moving average of $116.04. The company has a market capitalization of $362.66 billion, a PE ratio of 26.15, a PEG ratio of 0.84 and a beta of 0.45.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Novare Capital Management LLC increased its stake in Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after purchasing an additional 94 shares in the last quarter. Burns J W & Co. Inc. NY lifted its holdings in Novo Nordisk A/S by 1.9% during the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock valued at $647,000 after purchasing an additional 100 shares in the last quarter. Spinnaker Trust lifted its holdings in Novo Nordisk A/S by 1.1% in the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after purchasing an additional 100 shares in the last quarter. Finally, Marco Investment Management LLC increased its holdings in Novo Nordisk A/S by 1.5% in the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

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.