Novo Nordisk A/S (NYSE:NVO) Shares Down 1.3%

Shares of Novo Nordisk A/S (NYSE:NVO) were down 1.3% on Wednesday . The stock traded as low as $140.84 and last traded at $141.16. Approximately 1,215,575 shares traded hands during trading, a decline of 73% from the average daily volume of 4,431,980 shares. The stock had previously closed at $142.98.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NVO shares. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. Argus increased their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. Two research analysts have 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 data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Novo Nordisk A/S Trading Down 3.6 %

The company has a market cap of $618.29 billion, a PE ratio of 48.68, a PEG ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $135.69 and a 200 day moving average price of $124.37.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. Sell-side analysts predict that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. First PREMIER Bank purchased a new position in Novo Nordisk A/S during the first quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the first quarter valued at $26,000. Orion Capital Management LLC purchased a new position in Novo Nordisk A/S during the first quarter valued at $26,000. CNB Bank purchased a new position in Novo Nordisk A/S during the fourth quarter valued at $26,000. Finally, Pathway Financial Advisers LLC purchased a new position in Novo Nordisk A/S during the first quarter valued at $34,000. Hedge funds and other institutional investors 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.