Novo Nordisk A/S (NYSE:NVO) Shares Down 0.5% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price dropped 0.5% during mid-day trading on Wednesday . The company traded as low as $84.85 and last traded at $84.76. Approximately 1,630,604 shares traded hands during trading, a decline of 83% from the average daily volume of 9,546,138 shares. The stock had previously closed at $85.19.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVO. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Down 1.2 %

The stock has a market capitalization of $378.56 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 0.92 and a beta of 0.45. The business has a 50-day moving average of $93.97 and a 200-day moving average of $113.62. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Novare Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after purchasing an additional 85 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in shares of Novo Nordisk A/S by 2.5% in the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock valued at $454,000 after purchasing an additional 94 shares during the period. Burns J W & Co. Inc. NY lifted its holdings in shares of Novo Nordisk A/S by 1.9% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after acquiring an additional 100 shares during the period. Spinnaker Trust raised its stake in Novo Nordisk A/S by 1.1% during the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock worth $1,145,000 after purchasing an additional 100 shares during the period. Finally, Marco Investment Management LLC raised its position in shares of Novo Nordisk A/S by 1.5% in the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after buying an additional 100 shares during the period. 11.54% of the stock is owned by hedge funds and other 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.