Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares gapped up before the market opened on Monday . The stock had previously closed at $85.00, but opened at $88.87. Novo Nordisk A/S shares last traded at $88.06, with a volume of 5,108,174 shares.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Saturday. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $389.43 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40. The firm’s 50-day moving average is $109.01 and its 200 day moving average is $125.06.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NVO. American Trust lifted its stake in shares of Novo Nordisk A/S by 139.1% during the third quarter. American Trust now owns 12,725 shares of the company’s stock valued at $1,515,000 after buying an additional 7,402 shares during the period. Tri Ri Asset Management Corp acquired a new stake in shares of Novo Nordisk A/S during the third quarter worth $17,276,000. Peapack Gladstone Financial Corp increased its stake in Novo Nordisk A/S by 17.2% in the third quarter. Peapack Gladstone Financial Corp now owns 28,156 shares of the company’s stock valued at $3,353,000 after purchasing an additional 4,122 shares during the last quarter. Synovus Financial Corp lifted its position in Novo Nordisk A/S by 5.2% during the third quarter. Synovus Financial Corp now owns 54,697 shares of the company’s stock worth $6,513,000 after buying an additional 2,684 shares during the period. Finally, Optimist Retirement Group LLC boosted its stake in Novo Nordisk A/S by 4.3% in the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after buying an additional 112 shares during the last quarter. Institutional investors and hedge funds 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.