Novo Nordisk A/S (NYSE:NVO – Get Free Report) fell 4.4% on Thursday . The company traded as low as $129.29 and last traded at $129.43. 2,937,670 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 4,404,124 shares. The stock had previously closed at $135.42.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. BMO Capital Markets restated an “outperform” rating and set a $163.00 target price on shares of Novo Nordisk A/S in a research report on Tuesday, June 25th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, July 1st. Finally, Argus increased their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $145.67.
Novo Nordisk A/S Stock Performance
The firm’s 50 day moving average is $138.84 and its two-hundred day moving average is $127.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70. The stock has a market capitalization of $583.33 billion, a PE ratio of 44.20, a P/E/G ratio of 1.41 and a beta of 0.41.
Novo Nordisk A/S (NYSE:NVO – Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. The business had revenue of $9.52 billion for the quarter, compared to analyst estimates of $9.23 billion. As a group, research analysts predict that Novo Nordisk A/S will post 3.4 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. GQG Partners LLC grew its holdings in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the period. Capital International Investors lifted its holdings in shares of Novo Nordisk A/S by 22.3% during the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock valued at $736,121,000 after acquiring an additional 1,297,536 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Novo Nordisk A/S by 1,300.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Novo Nordisk A/S by 10.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after acquiring an additional 823,036 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Novo Nordisk A/S by 10,359.2% during the 4th quarter. International Assets Investment Management LLC now owns 819,688 shares of the company’s stock valued at $84,797,000 after acquiring an additional 811,851 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.
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.