Novo Nordisk A/S (NYSE:NVO) Trading Up 0.1% – Time to Buy?

Shares of Novo Nordisk A/S (NYSE:NVO) rose 0.1% during mid-day trading on Wednesday . The company traded as high as $107.39 and last traded at $107.15. Approximately 792,932 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,430,165 shares. The stock had previously closed at $107.06.

Analyst Ratings Changes

A number of equities analysts recently commented on NVO shares. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Finally, Cantor Fitzgerald restated 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 analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

The stock has a market capitalization of $472.76 billion, a PE ratio of 34.09, a price-to-earnings-growth ratio of 1.31 and a beta of 0.42. The firm’s fifty day moving average is $119.68 and its 200-day moving average is $129.92. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Advisor OS LLC increased its holdings in Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares in the last quarter. Cascade Financial Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 2.3% during the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after purchasing an additional 84 shares during the last quarter. Novare Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after acquiring an additional 85 shares during the last quarter. AA Financial Advisors LLC increased its position in Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its holdings in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after acquiring an additional 86 shares during the last quarter. Hedge funds and other institutional investors 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.