Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.6% - Here's Why

Key Points

• Novo Nordisk A/S saw a decline of 2.6% in its stock price, closing at $47.55 after trading as low as $47.22, with a significant drop in trading volume.
• The stock was recently dropped from a "strong-buy" to a "hold" rating by Guggenheim, with other analysts suggesting similar ratings, resulting in an average price target of $93.67.
• Novo Nordisk A/S has a market capitalization of $211 billion and reported earnings of $0.92 per share, meeting analyst estimates in its last earnings report.

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price traded down 2.6% during trading on Tuesday . The stock traded as low as $47.22 and last traded at $47.55. 6,164,027 shares were traded during mid-day trading, a decline of 43% from the average session volume of 10,763,760 shares. The stock had previously closed at $48.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Finally, BNP Paribas initiated 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, ten have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Novo Nordisk A/S has an average rating of "Hold" and an average price target of $93.67.

Novo Nordisk A/S Price Performance

The company has a market cap of $211.00 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.46 and a beta of 0.63. 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 stock has a 50 day moving average of $68.89 and a 200-day moving average of $72.37.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.92. The company 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%. Equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of NVO. Strategic Investment Solutions Inc. IL raised its position 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 purchasing an additional 300 shares during the period. Copeland Capital Management LLC raised its position in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after purchasing an additional 255 shares during the period. North Capital Inc. purchased a new stake in Novo Nordisk A/S in the first quarter valued at approximately $27,000. Park Square Financial Group LLC purchased a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $29,000. Finally, Stone House Investment Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter valued at approximately $30,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.

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