Novo Nordisk A/S (NYSE:NVO) Trading Down 0.9%

Shares of Novo Nordisk A/S (NYSE:NVO) dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $140.94 and last traded at $141.41. Approximately 801,000 shares traded hands during trading, a decline of 82% from the average daily volume of 4,425,049 shares. The stock had previously closed at $142.74.

Wall Street Analyst Weigh In

NVO has been the topic of several research analyst reports. Argus upped their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, July 1st. BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 price target on shares of Novo Nordisk A/S in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Trading Down 2.1 %

The business has a 50 day moving average of $137.36 and a 200 day moving average of $125.88. The firm has a market capitalization of $627.31 billion, a price-to-earnings ratio of 48.76, a PEG ratio of 1.41 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, research analysts predict that Novo Nordisk A/S will post 3.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently made changes to their positions in the company. First PREMIER Bank bought a new stake in Novo Nordisk A/S during the 1st quarter worth approximately $25,000. CNB Bank bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $26,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $26,000. Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $26,000. Finally, West Paces Advisors Inc. boosted its position in shares of Novo Nordisk A/S by 100.0% during the third quarter. West Paces Advisors Inc. now owns 300 shares of the company’s stock worth $27,000 after buying an additional 150 shares during the period. 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.