Novo Nordisk A/S (NYSE:NVO) Trading Down 4.4%

Novo Nordisk A/S (NYSE:NVO)’s share price was down 4.4% on Thursday . The stock traded as low as $129.29 and last traded at $129.43. Approximately 2,937,670 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 4,404,124 shares. The stock had previously closed at $135.42.

Analyst Upgrades and Downgrades

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

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The company has a 50-day simple moving average of $138.93 and a 200-day simple moving average of $127.37. The company has a market cap of $590.29 billion, a price-to-earnings ratio of 45.36, a PEG ratio of 1.31 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion for the quarter, compared to analysts’ expectations of $9.23 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.38 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BKM Wealth Management LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $63,000. Chesley Taft & Associates LLC grew its holdings in shares of Novo Nordisk A/S by 24.8% in the 4th quarter. Chesley Taft & Associates LLC now owns 4,145 shares of the company’s stock worth $429,000 after acquiring an additional 825 shares during the period. Whittier Trust Co. grew its holdings in shares of Novo Nordisk A/S by 4.3% in the 4th quarter. Whittier Trust Co. now owns 37,804 shares of the company’s stock worth $3,911,000 after acquiring an additional 1,572 shares during the period. Brookstone Capital Management grew its holdings in shares of Novo Nordisk A/S by 84.8% in the 4th quarter. Brookstone Capital Management now owns 26,493 shares of the company’s stock worth $2,741,000 after acquiring an additional 12,154 shares during the period. Finally, Fortitude Family Office LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter worth approximately $32,000. 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.