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

Shares of Novo Nordisk A/S (NYSE:NVO) traded up 0.1% on Wednesday . The stock traded as high as $81.80 and last traded at $81.15. 1,404,880 shares were traded during mid-day trading, a decline of 84% from the average session volume of 8,575,669 shares. The stock had previously closed at $81.03.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. One 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 MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $140.20.

Novo Nordisk A/S Trading Down 0.3 %

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 company’s fifty day moving average price is $96.63 and its two-hundred day moving average price is $116.04. The firm has a market cap of $362.66 billion, a PE ratio of 26.15, a P/E/G ratio of 0.84 and a beta of 0.45.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NVO. Novare Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after purchasing an additional 94 shares in the last quarter. Burns J W & Co. Inc. NY grew its stake in Novo Nordisk A/S by 1.9% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after acquiring an additional 100 shares during the period. Spinnaker Trust grew its holdings in Novo Nordisk A/S by 1.1% in the 3rd quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after buying an additional 100 shares during the period. Finally, Marco Investment Management LLC raised its stake in Novo Nordisk A/S by 1.5% during the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after purchasing an additional 100 shares during the period. 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.