Novo Nordisk A/S (NYSE:NVO) Sees Strong Trading Volume – Here’s Why

Shares of Novo Nordisk A/S (NYSE:NVO) saw strong trading volume on Monday . 9,587,590 shares were traded during mid-day trading, an increase of 41% from the previous session’s volume of 6,813,352 shares.The stock last traded at $71.51 and had previously closed at $71.50.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Hold” and a consensus target price of $128.00.

Novo Nordisk A/S Stock Performance

The company’s 50-day moving average price is $65.62 and its two-hundred day moving average price is $81.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The stock has a market cap of $318.17 billion, a PE ratio of 21.55, a PEG ratio of 0.90 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Large investors have recently added to or reduced their stakes in the business. Center for Financial Planning Inc. raised its position in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the period. Strategic Investment Solutions Inc. IL grew its holdings in Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S in the 4th quarter worth $29,000. Transce3nd LLC bought a new stake in Novo Nordisk A/S in the 4th quarter worth $33,000. Finally, North Capital Inc. bought a new stake in Novo Nordisk A/S in the 1st quarter worth $27,000. Hedge funds and other 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.