Novo Nordisk A/S (NYSE:NVO) Shares Down 5.2% – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares dropped 5.2% during trading on Monday . The stock traded as low as $78.17 and last traded at $78.74. Approximately 21,239,835 shares changed hands during mid-day trading, an increase of 159% from the average daily volume of 8,206,201 shares. The stock had previously closed at $83.07.

Analyst Ratings Changes

A number of brokerages recently weighed in on NVO. Sanford C. Bernstein raised 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. BMO Capital Markets decreased their price objective on shares of 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $140.20.

Novo Nordisk A/S Trading Up 2.9 %

The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94. The business has a fifty day simple moving average of $97.15 and a 200 day simple moving average of $116.47. The stock has a market cap of $363.25 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 0.84 and a beta of 0.45.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock worth $419,939,000 after purchasing an additional 36,223 shares during the last quarter. Natixis Advisors LLC boosted 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 acquiring an additional 80,070 shares during the last quarter. International Assets Investment Management LLC grew its stake in Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after acquiring an additional 1,796,635 shares during the period. DSM Capital Partners LLC raised its holdings in Novo Nordisk A/S by 257,816.0% in the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Novo Nordisk A/S by 3.6% during the 3rd quarter. LPL Financial LLC now owns 1,362,782 shares of the company’s stock worth $162,266,000 after purchasing an additional 47,496 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.