Novo Nordisk A/S (NYSE:NVO) Reaches New 12-Month Low – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $82.17 and last traded at $82.78, with a volume of 13916858 shares. The stock had previously closed at $103.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. 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. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, BMO Capital Markets dropped their price target on 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. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $150.40.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company has a market cap of $381.44 billion, a price-to-earnings ratio of 27.51, a PEG ratio of 1.37 and a beta of 0.40. The stock’s 50-day simple moving average is $109.01 and its 200 day simple moving average is $125.06.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently made changes to their positions in NVO. Advisor OS LLC increased its position in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after acquiring an additional 82 shares during the period. Cascade Financial Partners LLC increased its holdings in Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after purchasing an additional 84 shares during the period. Novare Capital Management LLC raised its position in Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares in the last quarter. Steel Grove Capital Advisors LLC boosted its stake in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares during the period. Finally, Benjamin Edwards Inc. grew its position in shares of Novo Nordisk A/S by 2.6% during the second quarter. Benjamin Edwards Inc. now owns 3,455 shares of the company’s stock worth $493,000 after buying an additional 87 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.