Novo Nordisk A/S (NYSE:NVO) Trading Down 1.5%

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 1.5% on Wednesday . The stock traded as low as $144.50 and last traded at $144.76. Approximately 1,359,389 shares were traded during trading, a decline of 69% from the average daily volume of 4,450,681 shares. The stock had previously closed at $146.91.

Analyst Ratings Changes

NVO has been the topic of several recent analyst reports. BMO Capital Markets restated an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a research note on Tuesday. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, June 17th. Finally, The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Trading Up 0.6 %

The firm has a fifty day moving average of $134.16 and a two-hundred day moving average of $122.88. The company has a market cap of $648.49 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The company had revenue of $9.52 billion during the quarter, compared to analyst estimates of $9.23 billion. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently added to or reduced their stakes in the company. First PREMIER Bank purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $26,000. Orion Capital Management LLC purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $26,000. CNB Bank purchased a new position in Novo Nordisk A/S during the 4th quarter valued at about $26,000. Finally, Pathway Financial Advisers LLC purchased a new position in Novo Nordisk A/S during the 1st quarter valued at about $34,000. 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.