Novo Nordisk A/S (NYSE:NVO) Sees Unusually-High Trading Volume – Still a Buy?

Novo Nordisk A/S (NYSE:NVO) shares saw unusually-high trading volume on Tuesday . Approximately 1,744,967 shares were traded during mid-day trading, a decline of 61% from the previous session’s volume of 4,496,476 shares.The stock last traded at $106.68 and had previously closed at $104.56.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVO shares. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Down 0.0 %

The firm has a market capitalization of $476.22 billion, a PE ratio of 34.34, a P/E/G ratio of 1.35 and a beta of 0.42. 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 firm’s 50 day moving average price is $113.80 and its two-hundred day moving average price is $128.33.

Institutional Trading of Novo Nordisk A/S

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in Novo Nordisk A/S by 13.1% during the 1st quarter. Tidal Investments LLC now owns 4,146 shares of the company’s stock worth $532,000 after purchasing an additional 481 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in Novo Nordisk A/S by 1.5% in the first quarter. Citizens Financial Group Inc. RI now owns 13,904 shares of the company’s stock valued at $1,785,000 after acquiring an additional 201 shares in the last quarter. Strategic Wealth Partners Ltd. boosted its stake in Novo Nordisk A/S by 13.5% during the 1st quarter. Strategic Wealth Partners Ltd. now owns 2,339 shares of the company’s stock valued at $300,000 after acquiring an additional 278 shares during the last quarter. First City Capital Management Inc. acquired a new position in Novo Nordisk A/S during the 1st quarter worth $207,000. Finally, Burney Co. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $243,000. 11.54% of the stock is 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.