Novo Nordisk A/S (NYSE:NVO) Shares Down 3.5% - Should You Sell?

Key Points

• Novo Nordisk A/S shares fell 3.5% to $45.58 during trading, with a significant increase in trading volume of 52% compared to the average session.
• Analysts have recently downgraded the stock, with BNP Paribas issuing an "underperform" rating and BMO Capital Markets reducing its price target from $105.00 to $64.00.
• The company's latest earnings report showed earnings per share of $0.97, surpassing analyst expectations of $0.89.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) traded down 3.5% during trading on Wednesday . The company traded as low as $45.05 and last traded at $45.58. 16,535,570 shares were traded during trading, an increase of 52% from the average session volume of 10,892,903 shares. The stock had previously closed at $47.22.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Hsbc Global Res cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday. Barclays reissued an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $93.67.

Novo Nordisk A/S Stock Performance

The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The firm has a fifty day moving average price of $68.43 and a 200 day moving average price of $72.20. The firm has a market cap of $202.11 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.89 by $0.08. Novo Nordisk A/S had a return on equity of 80.94% and a net margin of 34.52%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BIP Wealth LLC raised its holdings in Novo Nordisk A/S by 3.9% in the 4th quarter. BIP Wealth LLC now owns 3,642 shares of the company's stock valued at $313,000 after buying an additional 138 shares during the period. First Hawaiian Bank raised its holdings in Novo Nordisk A/S by 0.6% in the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after buying an additional 142 shares during the period. Anchor Investment Management LLC raised its holdings in Novo Nordisk A/S by 1.1% in the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock valued at $944,000 after buying an additional 150 shares during the period. Xponance Inc. raised its holdings in Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after buying an additional 158 shares during the period. Finally, Foster Dykema Cabot & Partners LLC increased its stake in Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock worth $319,000 after purchasing an additional 166 shares during the period. 11.54% of the stock is currently owned by hedge funds and other 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.

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