Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.3% – Here’s What Happened

Shares of Novo Nordisk A/S (NYSE:NVO) dropped 2.3% during trading on Thursday . The company traded as low as $48.91 and last traded at $49.1190. Approximately 18,796,595 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 12,632,513 shares. The stock had previously closed at $50.26.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “market perform” rating and set a $55.00 price objective (up from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday, October 14th. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research note on Wednesday, August 13th. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their price objective for the stock from $59.00 to $47.00 in a report on Monday, September 29th. Finally, Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $59.20.

Novo Nordisk A/S Trading Down 1.9%

The company has a market capitalization of $215.32 billion, a P/E ratio of 13.25, a PEG ratio of 2.33 and a beta of 0.65. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock has a fifty day moving average of $54.55 and a 200 day moving average of $61.01.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.74 billion during the quarter, compared to analysts’ expectations of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently added to or reduced their stakes in NVO. Warther Private Wealth LLC increased its stake in shares of Novo Nordisk A/S by 2.6% in the third quarter. Warther Private Wealth LLC now owns 407,995 shares of the company’s stock worth $22,640,000 after purchasing an additional 10,263 shares in the last quarter. Lazard Asset Management LLC increased its stake in Novo Nordisk A/S by 12.4% in the 3rd quarter. Lazard Asset Management LLC now owns 1,421,526 shares of the company’s stock worth $78,880,000 after buying an additional 157,344 shares in the last quarter. Virtu Financial LLC purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth $1,904,000. Logan Capital Management Inc. raised its holdings in Novo Nordisk A/S by 86.8% during the third quarter. Logan Capital Management Inc. now owns 20,071 shares of the company’s stock valued at $1,114,000 after acquiring an additional 9,324 shares during the period. Finally, Paces Ferry Wealth Advisors LLC lifted its position in shares of Novo Nordisk A/S by 10.7% in the third quarter. Paces Ferry Wealth Advisors LLC now owns 4,001 shares of the company’s stock valued at $222,000 after acquiring an additional 387 shares in the last quarter. Hedge funds and other 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.