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

Novo Nordisk A/S (NYSE:NVO) shares gapped up before the market opened on Friday . The stock had previously closed at $81.10, but opened at $89.97. Novo Nordisk A/S shares last traded at $87.64, with a volume of 9,951,988 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVO. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. One research 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, Novo Nordisk A/S currently has a consensus rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

The stock has a market capitalization of $391.54 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. The company has a 50 day simple moving average of $95.62 and a 200-day simple moving average of $115.55. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Institutional Trading of Novo Nordisk A/S

Large investors have recently made changes to their positions in the company. DAVENPORT & Co LLC lifted its stake in shares of Novo Nordisk A/S by 75.1% in the fourth quarter. DAVENPORT & Co LLC now owns 1,052,712 shares of the company’s stock valued at $90,477,000 after buying an additional 451,641 shares in the last quarter. Capital Insight Partners LLC raised its holdings in shares of Novo Nordisk A/S by 13.0% in the 4th quarter. Capital Insight Partners LLC now owns 52,212 shares of the company’s stock worth $4,491,000 after acquiring an additional 6,008 shares during the last quarter. Abundance Wealth Counselors lifted its position in Novo Nordisk A/S by 14.4% in the 4th quarter. Abundance Wealth Counselors now owns 4,288 shares of the company’s stock valued at $369,000 after acquiring an additional 541 shares in the last quarter. Independence Bank of Kentucky boosted its stake in Novo Nordisk A/S by 14.8% during the 4th quarter. Independence Bank of Kentucky now owns 13,190 shares of the company’s stock valued at $1,135,000 after purchasing an additional 1,700 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter worth approximately $252,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.