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

Shares of Novo Nordisk A/S (NYSE:NVO) gapped up prior to trading on Friday . The stock had previously closed at $81.10, but opened at $89.97. Novo Nordisk A/S shares last traded at $87.64, with a volume of 9,951,988 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVO. 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. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

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 firm has a market capitalization of $394.65 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 0.90 and a beta of 0.45. The stock has a fifty day moving average price of $95.35 and a 200-day moving average price of $115.17.

Institutional Trading of Novo Nordisk A/S

A number of large investors have recently bought and sold shares of NVO. International Assets Investment Management LLC raised its stake in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after acquiring an additional 1,796,635 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in Novo Nordisk A/S during the 3rd quarter valued at $98,765,000. DAVENPORT & Co LLC raised its position in Novo Nordisk A/S by 75.1% in the 4th quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock valued at $90,477,000 after purchasing an additional 451,641 shares during the last quarter. Wellington Management Group LLP acquired a new position in Novo Nordisk A/S in the third quarter worth $42,017,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the second quarter worth $41,646,000. 11.54% of the stock is currently owned by institutional investors.

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.