Novo Nordisk A/S (NYSE:NVO) Shares Gap Down – Should You Sell?

Shares of Novo Nordisk A/S (NYSE:NVO) gapped down before the market opened on Friday . The stock had previously closed at $105.32, but opened at $101.67. Novo Nordisk A/S shares last traded at $101.65, with a volume of 1,106,475 shares traded.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVO. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One investment 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. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Stock Down 3.4 %

The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $456.56 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 1.31 and a beta of 0.42. The firm’s 50-day moving average price is $118.58 and its 200 day moving average price is $129.58.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors have recently modified their holdings of the business. 1620 Investment Advisors Inc. acquired a new position in Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL bought a new position in Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after buying an additional 120 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the third quarter worth $28,000. Finally, Halpern Financial Inc. boosted its holdings in shares of Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after acquiring an additional 113 shares in the last quarter. 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.