Novo Nordisk A/S (NYSE:NVO) Sees Large Volume Increase – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) saw unusually-strong trading volume on Tuesday . Approximately 1,744,967 shares were traded during 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.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVO. BMO Capital Markets reduced their price objective on shares of 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. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Up 1.9 %

The firm has a market cap of $478.10 billion, a P/E ratio of 33.84, a P/E/G ratio of 1.35 and a beta of 0.42. The business’s fifty day moving average price is $114.83 and its two-hundred day moving average price is $128.64. 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 Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the 2nd quarter worth $25,000. Gilliland Jeter Wealth Management LLC lifted its position in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S during the third quarter valued at about $28,000. Finally, Halpern Financial Inc. grew its position in shares of Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. 11.54% of the stock is owned by 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.