Novo Nordisk A/S (NYSE:NVO) Shares Down 3.2% - Time to Sell?

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) fell 3.2% on Tuesday . The stock traded as low as $64.95 and last traded at $65.60. 3,883,197 shares changed hands during trading, a decline of 40% from the average session volume of 6,425,313 shares. The stock had previously closed at $67.74.

Analysts Set New Price Targets

Several brokerages have weighed in on NVO. Hsbc Global Res raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Kepler Capital Markets raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Dbs Bank lowered shares of Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Guggenheim lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an "equal weight" rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $135.00.

Novo Nordisk A/S Trading Up 1.9%

The company's fifty day moving average is $67.84 and its two-hundred day moving average is $85.23. The stock has a market cap of $294.49 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 0.90 and a beta of 0.65. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings data 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 net margin of 34.81% and a return on equity of 84.68%. The company had revenue of $11.87 billion for the quarter. On average, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 377.5% in the 1st quarter. Evergreen Capital Management LLC now owns 151,393 shares of the company's stock valued at $10,684,000 after acquiring an additional 119,688 shares during the period. Parnassus Investments LLC increased its holdings in shares of Novo Nordisk A/S by 56.0% in the 1st quarter. Parnassus Investments LLC now owns 926,083 shares of the company's stock valued at $64,307,000 after acquiring an additional 332,361 shares during the period. WPG Advisers LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $226,000. State of Wyoming acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $38,000. Finally, Trexquant Investment LP increased its holdings in shares of Novo Nordisk A/S by 62.6% in the 1st quarter. Trexquant Investment LP now owns 377,738 shares of the company's stock valued at $26,230,000 after acquiring an additional 145,492 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.

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.