Novo Nordisk A/S (NYSE:NVO) Shares Gap Down to $145.42

Novo Nordisk A/S (NYSE:NVO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $145.42, but opened at $141.69. Novo Nordisk A/S shares last traded at $139.79, with a volume of 1,867,828 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NVO shares. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Argus raised their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday. Finally, BMO Capital Markets restated an “outperform” rating and issued a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. The firm has a market cap of $624.26 billion, a P/E ratio of 47.97, a PEG ratio of 1.41 and a beta of 0.41. The business has a fifty day moving average of $135.69 and a 200 day moving average of $124.37.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.44 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently made changes to their positions in NVO. Bank of Nova Scotia bought a new stake in shares of Novo Nordisk A/S during the third quarter worth approximately $263,000. Ameriprise Financial Inc. boosted its holdings in shares of Novo Nordisk A/S by 116.3% during the third quarter. Ameriprise Financial Inc. now owns 1,071,126 shares of the company’s stock worth $97,565,000 after acquiring an additional 575,818 shares during the period. Sei Investments Co. boosted its holdings in shares of Novo Nordisk A/S by 222.9% during the third quarter. Sei Investments Co. now owns 778,715 shares of the company’s stock worth $70,817,000 after acquiring an additional 537,582 shares during the period. Scotia Capital Inc. boosted its holdings in shares of Novo Nordisk A/S by 93.0% during the third quarter. Scotia Capital Inc. now owns 133,804 shares of the company’s stock worth $12,169,000 after acquiring an additional 64,485 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Novo Nordisk A/S by 109.2% during the third quarter. Royal Bank of Canada now owns 3,643,061 shares of the company’s stock worth $331,300,000 after acquiring an additional 1,901,429 shares during the period. 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.