Novo Nordisk A/S (NYSE:NVO) Trading Down 2.5% – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) traded down 2.5% during mid-day trading on Wednesday . The stock traded as low as $68.90 and last traded at $68.65. 1,927,999 shares were traded during mid-day trading, a decline of 71% from the average session volume of 6,696,808 shares. The stock had previously closed at $70.44.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Guggenheim cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 17th. BNP Paribas assumed coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating for the company. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Hsbc Global Res upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.00.

Novo Nordisk A/S Stock Down 0.4%

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The firm’s 50-day moving average price is $65.63 and its 200 day moving average price is $82.01. The firm has a market cap of $310.46 billion, a P/E ratio of 21.15, a PEG ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVO. GQG Partners LLC grew its position in Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock worth $1,117,790,000 after buying an additional 5,556,460 shares during the last quarter. Nuveen LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at about $370,272,000. Raymond James Financial Inc. acquired a new position in Novo Nordisk A/S in the fourth quarter valued at about $404,910,000. Loomis Sayles & Co. L P lifted its position in shares of Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock worth $995,397,000 after purchasing an additional 2,947,771 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 73.2% during the fourth quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock worth $537,189,000 after purchasing an additional 2,639,693 shares in the last quarter. Institutional investors and hedge funds 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.