Novo Nordisk A/S (NYSE:NVO) Trading Down 1%

Novo Nordisk A/S (NYSE:NVO - Get Free Report) dropped 1% during mid-day trading on Friday . The company traded as low as $121.29 and last traded at $122.76. Approximately 3,114,437 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 4,823,821 shares. The stock had previously closed at $124.02.

Analyst Ratings Changes

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

Novo Nordisk A/S Price Performance

The stock has a market cap of $552.33 billion, a price-to-earnings ratio of 45.49, a P/E/G ratio of 2.16 and a beta of 0.43. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The stock's 50 day simple moving average is $127.21 and its two-hundred day simple moving average is $112.77.

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

Institutional Investors Weigh In On Novo Nordisk A/S

Several large investors have recently modified their holdings of NVO. Brookstone Capital Management raised its stake in Novo Nordisk A/S by 91.4% during the third quarter. Brookstone Capital Management now owns 14,339 shares of the company's stock worth $1,400,000 after acquiring an additional 6,846 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Novo Nordisk A/S by 107.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 196,053 shares of the company's stock valued at $17,829,000 after purchasing an additional 101,509 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Novo Nordisk A/S by 149.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 141,953 shares of the company's stock worth $12,909,000 after purchasing an additional 85,022 shares in the last quarter. Xponance Inc. acquired a new stake in shares of Novo Nordisk A/S in the third quarter valued at $248,000. Finally, Pinnacle Associates Ltd. raised its holdings in shares of Novo Nordisk A/S by 47.0% in the third quarter. Pinnacle Associates Ltd. now owns 32,582 shares of the company's stock valued at $2,963,000 after buying an additional 10,421 shares during the last quarter. 11.54% of the stock is currently owned by 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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