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

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

Wall Street Analyst Weigh In

NVO has been the subject of a number of recent research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, June 17th. Argus raised their price objective 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 initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday. Two 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Novo Nordisk A/S Stock Down 2.0 %

The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $646.07 billion, a P/E ratio of 49.92, a P/E/G ratio of 1.46 and a beta of 0.41. The business has a 50-day moving average price of $133.78 and a 200 day moving average price of $122.73.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. On average, equities analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Old Port Advisors purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $537,000. Mosaic Family Wealth Partners LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $226,000. Cypress Asset Management Inc. TX raised its holdings in Novo Nordisk A/S by 1.2% during the 1st quarter. Cypress Asset Management Inc. TX now owns 17,916 shares of the company’s stock valued at $2,392,000 after buying an additional 221 shares during the period. Hamilton Wealth LLC raised its holdings in Novo Nordisk A/S by 102.9% during the 1st quarter. Hamilton Wealth LLC now owns 63,856 shares of the company’s stock valued at $8,199,000 after buying an additional 32,382 shares during the period. Finally, Pathway Financial Advisers LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $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.