Novo Nordisk A/S (NYSE:NVO) Shares Down 4.6% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 4.6% during mid-day trading on Friday . The company traded as low as $79.71 and last traded at $79.28. Approximately 5,157,028 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 7,752,740 shares. The stock had previously closed at $83.07.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Trading Down 5.2 %

The business’s fifty day simple moving average is $98.82 and its two-hundred day simple moving average is $117.93. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company has a market cap of $353.29 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 0.92 and a beta of 0.45.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in NVO. Natixis Advisors LLC increased its position in Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after buying an additional 80,070 shares during the period. Norman Fields Gottscho Capital Management LLC increased its stake in Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after purchasing an additional 19,870 shares during the period. Talbot Financial LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $4,066,000. Versant Capital Management Inc purchased a new position in shares of Novo Nordisk A/S during the fourth quarter worth about $86,000. Finally, Zions Bancorporation N.A. increased its position in Novo Nordisk A/S by 57.0% in the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock valued at $2,207,000 after acquiring an additional 6,726 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.