Novo Nordisk A/S (NYSE:NVO) Shares Down 3%

Shares of Novo Nordisk A/S (NYSE:NVO) were down 3% during trading on Thursday . The company traded as low as $124.65 and last traded at $125.36. Approximately 3,734,645 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 4,790,799 shares. The stock had previously closed at $129.21.

Analyst Ratings Changes

A number of analysts have recently commented on NVO shares. UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $561.48 billion, a price-to-earnings ratio of 46.34, a P/E/G ratio of 2.14 and a beta of 0.43. The stock’s fifty day moving average is $127.22 and its two-hundred day moving average is $112.70. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The firm had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. On average, analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the stock. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S in the first quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S in the first quarter valued at $26,000. CNB Bank acquired a new position in shares of Novo Nordisk A/S in the fourth quarter valued at about $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the first quarter valued at about $34,000. Finally, Pacific Center for Financial Services grew its stake in shares of 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 acquiring an additional 135 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.