Novo Nordisk A/S (NYSE:NVO) Shares Down 2% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) traded down 2% on Wednesday . The company traded as low as $106.60 and last traded at $107.91. 4,077,648 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 4,382,388 shares. The stock had previously closed at $110.13.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Wednesday. BMO Capital Markets cut their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. One 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’s stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of “Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Down 4.3 %

The company has a market cap of $472.76 billion, a price-to-earnings ratio of 36.08, a P/E/G ratio of 1.43 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average price of $122.65 and a two-hundred day moving average price of $130.59.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, equities analysts predict that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the business. Larson Financial Group LLC increased its holdings in Novo Nordisk A/S by 20.3% in the first quarter. Larson Financial Group LLC now owns 2,604 shares of the company’s stock worth $334,000 after buying an additional 440 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in Novo Nordisk A/S by 7.4% in the first quarter. 9258 Wealth Management LLC now owns 2,698 shares of the company’s stock worth $346,000 after buying an additional 185 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Novo Nordisk A/S by 11.1% in the first quarter. Geneos Wealth Management Inc. now owns 16,417 shares of the company’s stock worth $2,108,000 after buying an additional 1,641 shares during the last quarter. Mitchell Capital Management Co. increased its holdings in Novo Nordisk A/S by 5.9% in the first quarter. Mitchell Capital Management Co. now owns 22,539 shares of the company’s stock worth $2,894,000 after buying an additional 1,253 shares during the last quarter. Finally, Oxbow Advisors LLC acquired a new position in Novo Nordisk A/S in the first quarter worth approximately $231,000. 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.