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

Novo Nordisk A/S (NYSE:NVO) shares were down 3% on Thursday . The stock 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 Upgrades and Downgrades

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

Novo Nordisk A/S Stock Performance

The company has a market capitalization of $561.48 billion, a P/E ratio of 46.34, a P/E/G ratio of 2.14 and a beta of 0.43. The business’s fifty day simple moving average is $127.22 and its 200-day simple moving average is $112.70. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the business. Summit Financial Wealth Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $1,272,000. AAFMAA Wealth Management & Trust LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $1,346,000. Centerpoint Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 655.7% in the 1st quarter. Centerpoint Advisors LLC now owns 2,305 shares of the company’s stock worth $296,000 after buying an additional 2,000 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth about $266,000. Finally, FinTrust Capital Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 13.2% in the 1st quarter. FinTrust Capital Advisors LLC now owns 2,136 shares of the company’s stock worth $274,000 after buying an additional 249 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

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.