Novo Nordisk A/S (NYSE:NVO) Shares Down 0.5% – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares traded down 0.5% on Friday . The company traded as low as $106.43 and last traded at $107.05. 1,094,323 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,422,294 shares. The stock had previously closed at $107.63.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, BMO Capital Markets cut their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Price Performance

The stock has a market cap of $481.06 billion, a PE ratio of 36.66, a P/E/G ratio of 1.43 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The firm’s 50 day moving average price is $122.65 and its two-hundred day moving average price is $130.59.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors have recently made changes to their positions in NVO. Price T Rowe Associates Inc. MD grew its position in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 1.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 4,254,180 shares of the company’s stock worth $607,242,000 after purchasing an additional 58,935 shares in the last quarter. GQG Partners LLC increased its position in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after purchasing an additional 3,151,584 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after buying an additional 36,223 shares in the last quarter. Finally, Natixis Advisors LLC boosted its stake in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after buying an additional 80,070 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

About Novo Nordisk A/S

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.