Novo Nordisk A/S (NYSE:NVO) Stock Price Up 7.1% - Time to Buy?
Novo Nordisk A/S (NYSE:NVO) saw a 7.1% increase in stock price, trading at $49.21 after reaching a high of $49.43. Trading volume surged to 27.3 million shares, up 117% from average levels. Analysts have upgraded ratings, with HSBC raising it to "strong-buy" and BMO Capital Markets increasing the price target to $55. The company reported $1.02 EPS, exceeding estimates, with a market cap of $219.72 billion. Institutional investors have also increased their stakes significantly.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) rose 7.1% during mid-day trading on Tuesday . The stock traded as high as $49.43 and last traded at $49.21. Approximately 27,302,130 shares traded hands during mid-day trading, an increase of 117% from the average daily volume of 12,558,042 shares. The stock had previously closed at $45.94.
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Wall Street Analysts Forecast Growth
- Breakout Momentum Plays You Need to Know About
Several research analysts recently commented on the stock. Hsbc Global Res raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 1st. Berenberg Bank upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Wednesday, September 17th. BMO Capital Markets reiterated a "market perform" rating and issued a $55.00 price target (up previously from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a report on Wednesday, August 13th. Finally, Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $59.20.
Check Out Our Latest Report on NVO
Novo Nordisk A/S Stock Performance
- Novo Nordisk’s Akero Therapeutics Buy Targets Eli Lilly’s Lead
The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business's fifty day moving average is $55.11 and its 200-day moving average is $61.39. The company has a market cap of $219.72 billion, a PE ratio of 13.52, a P/E/G ratio of 2.33 and a beta of 0.65.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.25. The firm had revenue of $11.74 billion during the quarter, compared to analyst estimates of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.
Institutional Inflows and Outflows
- Trump GLP-1 Pilot Program Could Boost Novo Nordisk & Eli Lilly
Institutional investors have recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in shares of Novo Nordisk A/S by 209.8% during the third quarter. True Wealth Design LLC now owns 443 shares of the company's stock worth $25,000 after buying an additional 300 shares during the period. Guerra Advisors Inc acquired a new position in Novo Nordisk A/S in the third quarter valued at approximately $25,000. Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S in the 1st quarter worth approximately $30,000. Strengthening Families & Communities LLC acquired a new stake in Novo Nordisk A/S during the third quarter valued at $30,000. Finally, NewSquare Capital LLC increased its stake in shares of Novo Nordisk A/S by 174.1% in the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company's stock valued at $31,000 after purchasing an additional 282 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.
About Novo Nordisk A/S
(Get Free Report)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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