Novo Nordisk A/S (NYSE:NVO) Shares Down 1.9%

Novo Nordisk A/S (NYSE:NVO) traded down 1.9% during mid-day trading on Tuesday . The company traded as low as $139.07 and last traded at $140.38. 2,288,900 shares changed hands during trading, a decline of 48% from the average session volume of 4,443,338 shares. The stock had previously closed at $143.07.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on NVO shares. Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $163.00 price target on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.67.

Novo Nordisk A/S Stock Performance

The firm has a market cap of $627.31 billion, a PE ratio of 48.76, a PEG 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 company has a 50-day simple moving average of $137.36 and a two-hundred day simple moving average of $125.88.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. The company had revenue of $9.52 billion during the quarter, compared to analyst estimates 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 research analysts forecast that Novo Nordisk A/S will post 3.43 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the company. Cravens & Co Advisors LLC lifted its position in shares of Novo Nordisk A/S by 1.0% during the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after buying an additional 85 shares during the last quarter. Sage Rhino Capital LLC grew its position in Novo Nordisk A/S by 0.7% during the first quarter. Sage Rhino Capital LLC now owns 12,320 shares of the company’s stock worth $1,582,000 after buying an additional 89 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Novo Nordisk A/S by 0.6% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after buying an additional 90 shares in the last quarter. Essex LLC boosted its holdings in shares of Novo Nordisk A/S by 2.0% in the 1st quarter. Essex LLC now owns 4,684 shares of the company’s stock worth $601,000 after purchasing an additional 90 shares in the last quarter. Finally, JCIC Asset Management Inc. increased its position in shares of Novo Nordisk A/S by 0.3% during the 1st quarter. JCIC Asset Management Inc. now owns 27,552 shares of the company’s stock valued at $3,538,000 after purchasing an additional 90 shares during the last quarter. 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.