Novo Nordisk A/S (NYSE:NVO) Shares Down 1.1% - Here's What Happened

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price was down 1.1% on Friday . The stock traded as low as $68.58 and last traded at $69.05. Approximately 4,047,911 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 7,246,407 shares. The stock had previously closed at $69.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NVO shares. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price target (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Hsbc Global Res upgraded Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Finally, BNP Paribas began coverage on Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Novo Nordisk A/S has an average rating of "Hold" and a consensus target price of $112.00.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.56 and a current ratio of 0.74. The company has a fifty day moving average price of $69.96 and a two-hundred day moving average price of $75.92. The company has a market cap of $308.31 billion, a P/E ratio of 20.43, a PEG ratio of 1.35 and a beta of 0.64.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $11.87 billion during the quarter. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL lifted its stake in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Park Square Financial Group LLC bought a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at about $29,000. Transce3nd LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $33,000. North Capital Inc. bought a new position in Novo Nordisk A/S during the first quarter worth about $27,000. Finally, Copeland Capital Management LLC increased its position in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after buying an additional 255 shares during the last quarter. 11.54% of the stock is 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.