Novo Nordisk A/S (NYSE:NVO) Shares Up 2.3% – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares shot up 2.3% during mid-day trading on Wednesday . The stock traded as high as $50.43 and last traded at $50.2570. 24,548,874 shares were traded during mid-day trading, an increase of 95% from the average session volume of 12,604,865 shares. The stock had previously closed at $49.15.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Rothschild Redb raised shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. UBS Group cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Tuesday. Finally, BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 price target on the stock in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $59.20.

Novo Nordisk A/S Trading Up 2.3%

The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average price of $54.96 and a 200 day moving average price of $61.30. The stock has a market capitalization of $224.40 billion, a PE ratio of 13.81, a P/E/G ratio of 2.33 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. The business had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC grew its position in Novo Nordisk A/S by 209.8% in the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares in the last quarter. Guerra Advisors Inc purchased a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $25,000. Stone House Investment Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $30,000. Strengthening Families & Communities LLC purchased a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $30,000. Finally, NewSquare Capital LLC lifted its holdings in Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after acquiring an additional 282 shares during the period. 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.