Novo Nordisk A/S (NYSE:NVO) Shares Gap Down to $145.42

Novo Nordisk A/S (NYSE:NVO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $145.42, but opened at $141.69. Novo Nordisk A/S shares last traded at $139.79, with a volume of 1,867,828 shares changing hands.

Analyst Ratings Changes

NVO has been the subject of a number of recent analyst reports. Argus boosted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has 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 an average target price of $145.67.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market capitalization of $624.26 billion, a P/E ratio of 47.97, a P/E/G ratio of 1.41 and a beta of 0.41. The firm’s 50 day simple moving average is $135.69 and its two-hundred day simple moving average is $124.37.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results 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. The business had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. As a group, analysts predict that Novo Nordisk A/S will post 3.44 earnings per share for the current year.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in the business. Beese Fulmer Investment Management Inc. lifted its stake in Novo Nordisk A/S by 0.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 163,818 shares of the company’s stock worth $23,383,000 after purchasing an additional 1,100 shares during the last quarter. Moody National Bank Trust Division bought a new position in shares of Novo Nordisk A/S during the second quarter valued at about $226,000. Partnership Wealth Management LLC bought a new position in shares of Novo Nordisk A/S during the second quarter valued at about $1,412,000. Hudson Valley Investment Advisors Inc. ADV bought a new position in shares of Novo Nordisk A/S during the second quarter valued at about $359,000. Finally, Transcend Capital Advisors LLC raised its stake in shares of Novo Nordisk A/S by 18.6% during the second quarter. Transcend Capital Advisors LLC now owns 3,198 shares of the company’s stock valued at $457,000 after acquiring an additional 501 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

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.