Novo Nordisk A/S (NYSE:NVO) Shares Gap Down – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $79.83, but opened at $77.84. Novo Nordisk A/S shares last traded at $77.76, with a volume of 1,670,375 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVO. Wall Street Zen upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Saturday. Guggenheim lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 17th. BMO Capital Markets reissued a “market perform” rating and set a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Finally, BNP Paribas began coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an “underperform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $112.00.

Novo Nordisk A/S Price Performance

The stock has a market capitalization of $345.87 billion, a price-to-earnings ratio of 23.43, a P/E/G ratio of 0.90 and a beta of 0.66. The business has a 50-day simple moving average of $67.30 and a two-hundred day simple moving average of $79.45. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. The company had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cim LLC boosted its stake in shares of Novo Nordisk A/S by 4.0% during the 1st quarter. Cim LLC now owns 220,221 shares of the company’s stock worth $15,292,000 after acquiring an additional 8,398 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock valued at $1,556,000 after acquiring an additional 142 shares in the last quarter. Invst LLC acquired a new position in Novo Nordisk A/S in the 1st quarter worth approximately $466,000. Modern Wealth Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter worth approximately $414,000. Finally, Rhumbline Advisers lifted its holdings in shares of Novo Nordisk A/S by 10.2% in the first quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock valued at $4,412,000 after purchasing an additional 5,898 shares in the last quarter. Institutional investors 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.