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

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.

Analyst Ratings Changes

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 note on Monday. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Stock Up 0.9 %

The business has a fifty day moving average of $100.86 and a 200 day moving average of $119.79. The company has a market capitalization of $387.77 billion, a PE ratio of 27.96, a PEG 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.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Natixis Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after buying an additional 80,070 shares during the period. Norman Fields Gottscho Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after buying an additional 19,870 shares during the period. Versant Capital Management Inc purchased a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $86,000. Zions Bancorporation N.A. raised its position in shares of Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after acquiring an additional 6,726 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Novo Nordisk A/S by 14.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock worth $34,463,000 after acquiring an additional 37,346 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other 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.