Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) shares 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.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research reports. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average is $101.94 and its two-hundred day moving average is $120.27. The company has a market capitalization of $383.55 billion, a P/E ratio of 27.66, a price-to-earnings-growth ratio of 1.37 and a beta of 0.45.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently modified their holdings of the business. Envestnet Asset Management Inc. grew its stake in Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock valued at $607,242,000 after purchasing an additional 58,935 shares during the period. Raymond James & Associates grew its position in Novo Nordisk A/S by 1.0% during the third quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after buying an additional 36,223 shares during the period. Natixis Advisors LLC raised its position in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after acquiring an additional 80,070 shares during the period. International Assets Investment Management LLC boosted its stake in 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. Finally, DSM Capital Partners LLC grew its position in shares of Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the period. 11.54% of the stock is 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.