Novo Nordisk A/S (NYSE:NVO) Reaches New 1-Year Low – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $80.05 and last traded at $81.27, with a volume of 13690565 shares trading hands. The stock had previously closed at $84.62.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Stock Performance

The stock has a market capitalization of $364.70 billion, a P/E ratio of 26.30, a P/E/G ratio of 1.37 and a beta of 0.45. The stock has a 50 day simple moving average of $99.26 and a two-hundred day simple moving average of $118.18. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

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. Natixis Advisors LLC grew its position in shares of Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after acquiring an additional 80,070 shares during the period. Norman Fields Gottscho Capital Management LLC raised its holdings in shares of Novo Nordisk A/S by 45.3% in the 4th 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. Versant Capital Management Inc acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $86,000. Talbot Financial LLC bought a new position in Novo Nordisk A/S during the fourth quarter worth about $4,066,000. Finally, Zions Bancorporation N.A. increased its position in Novo Nordisk A/S by 57.0% during the third quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company’s stock worth $2,207,000 after buying an additional 6,726 shares during the last quarter. 11.54% of the stock is owned by institutional investors.

About Novo Nordisk A/S

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.