Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Still a Buy?

Shares of Novo Nordisk A/S (NYSE:NVO) gapped up prior to trading on Wednesday . The stock had previously closed at $83.34, but opened at $85.51. Novo Nordisk A/S shares last traded at $85.43, with a volume of 1,292,626 shares trading hands.

Analyst Ratings Changes

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

Novo Nordisk A/S Stock Up 0.9 %

The stock has a market cap of $387.77 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45. 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 business has a 50-day moving average price of $100.86 and a 200-day moving average price of $119.79.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Atlas Brown Inc. raised its stake in Novo Nordisk A/S by 33.4% in the 4th quarter. Atlas Brown Inc. now owns 5,130 shares of the company’s stock valued at $441,000 after purchasing an additional 1,285 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth $58,000. A. D. Beadell Investment Counsel Inc. increased its stake in shares of Novo Nordisk A/S by 41.1% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 13,012 shares of the company’s stock worth $1,119,000 after acquiring an additional 3,787 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Novo Nordisk A/S by 0.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 290,489 shares of the company’s stock worth $24,988,000 after acquiring an additional 1,051 shares during the last quarter. Finally, ORG Partners LLC increased its stake in shares of Novo Nordisk A/S by 181.7% in the 4th quarter. ORG Partners LLC now owns 1,003 shares of the company’s stock worth $86,000 after acquiring an additional 647 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

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.