Novo Nordisk A/S (NYSE:NVO) Reaches New 52-Week High at $57.41

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Novo Nordisk A/S (NYSE:NVO)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $57.41 and last traded at $57.35, with a volume of 489113 shares. The stock had previously closed at $56.37.

A number of brokerages have recently issued reports on NVO. Pareto Securities upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Monday, August 5th. Citigroup upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 17th. Bank of America upped their target price on shares of Novo Nordisk A/S from $355.00 to $400.00 and gave the stock a “neutral” rating in a research report on Friday, September 13th. ValuEngine upgraded shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group lowered shares of Novo Nordisk A/S from a “hold” rating to an “underperform” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $159.65.

The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.06. The firm has a market cap of $135.11 billion, a PE ratio of 22.72, a P/E/G ratio of 2.28 and a beta of 0.61. The firm’s 50 day moving average is $53.04 and its 200-day moving average is $50.55.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Friday, November 1st. The company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. Novo Nordisk A/S had a net margin of 32.44% and a return on equity of 75.48%. The business had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.55 billion. On average, analysts forecast that Novo Nordisk A/S will post 2.45 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Carroll Financial Associates Inc. grew its stake in Novo Nordisk A/S by 3.2% in the second quarter. Carroll Financial Associates Inc. now owns 11,805 shares of the company’s stock worth $602,000 after purchasing an additional 369 shares in the last quarter. Capital Insight Partners LLC lifted its stake in Novo Nordisk A/S by 1.7% in the 2nd quarter. Capital Insight Partners LLC now owns 17,049 shares of the company’s stock worth $870,000 after purchasing an additional 285 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Novo Nordisk A/S by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 81,009 shares of the company’s stock worth $4,135,000 after purchasing an additional 1,509 shares in the last quarter. Arlington Partners LLC lifted its stake in Novo Nordisk A/S by 870.8% in the 2nd quarter. Arlington Partners LLC now owns 48,150 shares of the company’s stock worth $2,458,000 after purchasing an additional 43,190 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Novo Nordisk A/S by 510.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 629 shares of the company’s stock worth $32,000 after purchasing an additional 526 shares in the last quarter. 7.36% of the stock is currently owned by hedge funds and other institutional investors.

About Novo Nordisk A/S (NYSE:NVO)

Novo Nordisk A/S, a healthcare company, engages in the development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes Care and Obesity, and Biopharmaceuticals. The Diabetes Care and Obesity segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral anti-diabetic products, obesity, and other chronic diseases.

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