Novo Nordisk A/S (NYSE:NVO) Shares Up 7.8% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price shot up 7.8% during mid-day trading on Friday . The stock traded as high as $89.97 and last traded at $87.44. 14,081,104 shares traded hands during trading, an increase of 56% from the average session volume of 9,046,912 shares. The stock had previously closed at $81.10.

Analyst Ratings Changes

NVO has been the subject of a number of research analyst reports. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. One investment 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 stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Up 8.4 %

The firm has a market capitalization of $394.65 billion, a price-to-earnings ratio of 28.46, a P/E/G ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a fifty day moving average of $95.35 and a two-hundred day moving average of $115.17.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S in the second quarter valued at approximately $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $48,000. Finally, M&R Capital Management Inc. raised its stake in Novo Nordisk A/S by 260.5% during the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock worth $49,000 after buying an additional 297 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Novo Nordisk A/S

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.