Novo Nordisk A/S (NYSE:NVO) Shares Down 2.2% - Here's What Happened

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) fell 2.2% on Tuesday . The stock traded as low as $70.59 and last traded at $71.21. 3,336,217 shares changed hands during trading, a decline of 51% from the average session volume of 6,827,978 shares. The stock had previously closed at $72.83.

Wall Street Analyst Weigh In

NVO has been the topic of several research reports. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th. Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an "equal weight" rating for the company. Stifel Nicolaus lowered Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Dbs Bank cut Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Finally, BMO Capital Markets reiterated a "market perform" rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $128.00.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock's 50 day moving average price is $65.67 and its two-hundred day moving average price is $81.09. The firm has a market capitalization of $324.09 billion, a price-to-earnings ratio of 21.95, a P/E/G ratio of 0.90 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share for the quarter, hitting analysts' consensus estimates of $0.92. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. The company had revenue of $11.87 billion during the quarter. Analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVO. M. Kulyk & Associates LLC raised its holdings in Novo Nordisk A/S by 3.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock worth $274,000 after acquiring an additional 119 shares during the period. Center for Financial Planning Inc. grew its position in shares of Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Tradewinds Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 2.6% in the fourth quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company's stock worth $429,000 after purchasing an additional 124 shares during the period. Exencial Wealth Advisors LLC lifted its position in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company's stock worth $1,987,000 after purchasing an additional 124 shares during the last quarter. Finally, Indie Asset Partners LLC lifted its position in shares of Novo Nordisk A/S by 4.2% during the 4th quarter. Indie Asset Partners LLC now owns 3,128 shares of the company's stock worth $269,000 after purchasing an additional 126 shares during the last quarter. 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.