Novo Nordisk A/S (NYSE:NVO) Shares Down 1.9% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) was down 1.9% during mid-day trading on Monday . The company traded as low as $51.35 and last traded at $51.4030. Approximately 13,584,010 shares traded hands during trading, an increase of 2% from the average daily volume of 13,353,102 shares. The stock had previously closed at $52.40.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Novo Nordisk A/S in a report on Monday, October 27th. They issued an “underperform” rating for the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Novo Nordisk A/S in a report on Tuesday, December 23rd. Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Argus restated a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Finally, Berenberg Bank raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Hold” and an average target price of $53.33.

Novo Nordisk A/S Trading Down 1.9%

The company has a 50 day simple moving average of $49.35 and a 200 day simple moving average of $56.62. The company has a market capitalization of $229.51 billion, a PE ratio of 14.94 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.25. The firm had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. Analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Lockheed Martin Investment Management Co. lifted its stake in Novo Nordisk A/S by 179.4% during the 2nd quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock worth $2,999,000 after acquiring an additional 27,900 shares in the last quarter. Martin Capital Partners LLC increased its stake in Novo Nordisk A/S by 53.8% during the third quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock worth $6,524,000 after purchasing an additional 41,129 shares during the period. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company’s stock worth $72,523,000 after purchasing an additional 1,038,137 shares in the last quarter. Unified Investment Management purchased a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $692,000. Finally, Guild Investment Management Inc. grew its holdings in shares of Novo Nordisk A/S by 20.7% in the second quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock valued at $2,553,000 after purchasing an additional 6,345 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 is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.