Novo Nordisk A/S (NYSE:NVO) Trading Down 1.7%

Shares of Novo Nordisk A/S (NYSE:NVO) fell 1.7% during trading on Tuesday . The company traded as low as $139.03 and last traded at $142.92. 3,442,421 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 4,428,777 shares. The stock had previously closed at $145.42.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Price Performance

The firm has a market cap of $624.26 billion, a PE ratio of 47.97, a price-to-earnings-growth ratio of 1.41 and a beta of 0.41. 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 stock has a 50 day moving average price of $135.69 and a two-hundred day moving average price of $124.37.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $9.52 billion during the quarter, compared to the consensus estimate of $9.23 billion. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. As a group, equities analysts expect 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 large investors have recently bought and sold shares of NVO. First PREMIER Bank purchased a new stake in Novo Nordisk A/S in the first quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. Orion Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. CNB Bank acquired a new stake in Novo Nordisk A/S during the fourth quarter valued at $26,000. Finally, Pathway Financial Advisers LLC acquired a new position in shares of Novo Nordisk A/S in the first quarter worth about $34,000. Hedge funds and other 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.