Novo Nordisk A/S (NYSE:NVO) Trading Down 0.4% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 0.4% during trading on Thursday . The company traded as low as $105.82 and last traded at $106.45. Approximately 1,120,556 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 4,425,886 shares. The stock had previously closed at $106.91.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S has an average rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market capitalization of $476.80 billion, a P/E ratio of 34.47, a price-to-earnings-growth ratio of 1.29 and a beta of 0.42. The business’s 50 day moving average price is $119.68 and its 200 day moving average price is $129.92.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently made changes to their positions in NVO. Advisor OS LLC boosted its stake in Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after acquiring an additional 82 shares in the last quarter. Cascade Financial Partners LLC lifted its position in shares of Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after acquiring an additional 84 shares in the last quarter. Novare Capital Management LLC grew its position in shares of Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares during the period. AA Financial Advisors LLC raised its holdings in shares of Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC grew its position in Novo Nordisk A/S by 2.3% in the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after acquiring an additional 86 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

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.