Novo Nordisk A/S (NYSE:NVO) Shares Gap Down to $130.12

Novo Nordisk A/S (NYSE:NVO) shares gapped down prior to trading on Wednesday . The stock had previously closed at $130.12, but opened at $122.69. Novo Nordisk A/S shares last traded at $122.36, with a volume of 2,185,405 shares changing hands.

Analyst Ratings Changes

Several research firms recently weighed in on NVO. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group began 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 price objective for the company. Argus increased their target price 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. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

The company’s 50-day simple moving average is $137.93 and its 200-day simple moving average is $129.65. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The company has a market capitalization of $534.33 billion, a PE ratio of 42.03, a P/E/G ratio of 1.33 and a beta of 0.41.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor OS LLC increased its stake in Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares during the period. Cascade Financial Partners LLC boosted its holdings in shares of Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after acquiring an additional 84 shares in the last quarter. Cravens & Co Advisors LLC increased its stake in shares of Novo Nordisk A/S by 1.0% during the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after acquiring an additional 85 shares during the period. AA Financial Advisors LLC raised its holdings in Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares in the last quarter. Finally, Sage Rhino Capital LLC boosted its holdings in Novo Nordisk A/S by 0.7% in the 1st quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock valued at $1,582,000 after purchasing an additional 89 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other 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.