Novo Nordisk A/S (NYSE:NVO) Shares Down 0.9%

Novo Nordisk A/S (NYSE:NVO) dropped 0.9% during mid-day trading on Thursday . The stock traded as low as $140.94 and last traded at $141.41. Approximately 801,000 shares traded hands during trading, a decline of 82% from the average daily volume of 4,425,049 shares. The stock had previously closed at $142.74.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NVO shares. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. The Goldman Sachs Group initiated coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued 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 2.1 %

The firm has a market capitalization of $627.31 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. The firm’s 50-day moving average is $137.36 and its 200 day moving average is $125.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The company had revenue of $9.52 billion for the quarter, compared to the consensus estimate of $9.23 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 3.43 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Large investors have recently made changes to their positions in the stock. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $26,000. Orion Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at $26,000. Halpern Financial Inc. increased its stake in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Finally, CNB Bank purchased a new position in Novo Nordisk A/S during the fourth quarter worth about $26,000. Institutional investors and hedge funds 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.