Novo Nordisk A/S (NYSE:NVO) Stock Price Down 3%

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price dropped 3% on Thursday . The company traded as low as $124.65 and last traded at $125.36. Approximately 3,734,645 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 4,790,799 shares. The stock had previously closed at $129.21.

Wall Street Analysts Forecast Growth

NVO has been the subject of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They issued an "outperform" rating and a $163.00 target price for the company. UBS Group assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a "neutral" rating for the company. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an "overweight" rating and a $120.00 target price for the company. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.60.

Novo Nordisk A/S Stock Down 4.1 %

The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The firm's 50 day simple moving average is $127.21 and its two-hundred day simple moving average is $112.77. The firm has a market cap of $556.32 billion, a price-to-earnings ratio of 45.83, a PEG ratio of 2.14 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The company had revenue of $9.51 billion during the quarter, compared to analysts' expectations of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.32 EPS for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacific Center for Financial Services raised its position in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company's stock valued at $25,000 after buying an additional 135 shares in the last quarter. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $25,000. Bell Investment Advisors Inc grew its holdings in shares of Novo Nordisk A/S by 79.9% during the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company's stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. CNB Bank bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at approximately $26,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.