Novo Nordisk A/S (NYSE:NVO) Trading Down 1.3%

Shares of Novo Nordisk A/S (NYSE:NVO) traded down 1.3% on Wednesday . The stock traded as low as $140.84 and last traded at $141.16. 1,215,575 shares were traded during trading, a decline of 73% from the average session volume of 4,431,980 shares. The stock had previously closed at $142.98.

Analyst Upgrades and Downgrades

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

Novo Nordisk A/S Stock Performance

The company has a market cap of $623.18 billion, a price-to-earnings ratio of 47.89, a price-to-earnings-growth ratio of 1.37 and a beta of 0.41. The firm has a 50-day simple moving average of $136.21 and a 200 day simple moving average of $124.57. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, topping the consensus estimate 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 predict that Novo Nordisk A/S will post 3.44 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the company. Pacific Center for Financial Services lifted its position in Novo Nordisk A/S by 100.0% in the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the period. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $25,000. CNB Bank purchased a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $26,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Finally, Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Institutional investors and hedge funds 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.