Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.4% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price was down 0.4% on Tuesday . The stock traded as low as $107.75 and last traded at $109.30. Approximately 2,176,238 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 4,360,644 shares. The stock had previously closed at $109.72.

Wall Street Analysts Forecast Growth

NVO has been the topic of several recent research reports. BMO Capital Markets cut their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. Finally, StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Friday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Performance

The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $490.53 billion, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 1.46 and a beta of 0.42. The company’s 50 day moving average is $123.74 and its 200-day moving average is $130.85.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in Novo Nordisk A/S by 14.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 289,438 shares of the company’s stock valued at $34,463,000 after buying an additional 37,346 shares during the last quarter. Private Wealth Partners LLC increased its holdings in Novo Nordisk A/S by 155.1% during the third quarter. Private Wealth Partners LLC now owns 33,203 shares of the company’s stock worth $3,953,000 after buying an additional 20,188 shares during the last quarter. Independence Bank of Kentucky boosted its stake in Novo Nordisk A/S by 192.7% in the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock valued at $1,368,000 after acquiring an additional 7,565 shares during the last quarter. Traynor Capital Management Inc. grew its position in shares of Novo Nordisk A/S by 3.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock valued at $36,364,000 after acquiring an additional 10,019 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Novo Nordisk A/S by 453.3% during the first quarter. Cetera Investment Advisers now owns 265,538 shares of the company’s stock valued at $34,095,000 after purchasing an additional 217,545 shares during the last quarter. 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.