Novo Nordisk A/S (NYSE:NVO) Trading 0.1% Higher - Here's Why

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) were up 0.1% during mid-day trading on Wednesday . The stock 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

Several equities research analysts recently issued reports on NVO shares. BMO Capital Markets cut their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. StockNews.com raised 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 target 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $144.50.

Novo Nordisk A/S Stock Down 0.2 %

The company has a market cap of $479.67 billion, a PE ratio of 34.74, a PEG ratio of 1.29 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 company's fifty day moving average is $120.23 and its 200-day moving average is $130.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NVO. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC increased its holdings in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company's stock valued at $26,000 after purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the second quarter worth $25,000. Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S during the 1st quarter valued at $26,000. Finally, Halpern Financial Inc. lifted its holdings in Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company's stock worth $30,000 after buying an additional 113 shares in the last quarter. Institutional investors own 11.54% of the company's stock.

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.

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