Novo Nordisk A/S (NYSE:NVO) Trading Down 1.3% – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares traded down 1.3% on Wednesday . The stock traded as low as $58.34 and last traded at $58.8690. 16,110,730 shares were traded during trading, a decline of 23% from the average session volume of 21,010,773 shares. The stock had previously closed at $59.64.

Analyst Ratings Changes

A number of equities analysts have commented on NVO shares. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research note on Friday, January 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Novo Nordisk A/S in a report on Monday, December 29th. Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. The Goldman Sachs Group dropped their target price on Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 28th. Finally, Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $56.21.

Novo Nordisk A/S Trading Down 1.3%

The business’s 50 day moving average price is $50.09 and its two-hundred day moving average price is $55.08. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The company has a market capitalization of $262.85 billion, a price-to-earnings ratio of 17.11 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. The business had revenue of $11.79 billion for the quarter, compared to analyst estimates of $11.98 billion. Novo Nordisk A/S had a net margin of 32.76% and a return on equity of 73.50%. Equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several institutional investors have recently modified their holdings of the company. Jennison Associates LLC raised its position in Novo Nordisk A/S by 0.3% in the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after acquiring an additional 63,341 shares in the last quarter. Capital International Investors grew its stake in shares of Novo Nordisk A/S by 52.4% in the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock worth $982,969,000 after purchasing an additional 6,092,192 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Novo Nordisk A/S by 4,190.8% in the 3rd quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after purchasing an additional 13,658,867 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Novo Nordisk A/S by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock worth $867,998,000 after purchasing an additional 187,789 shares in the last quarter. Finally, Folketrygdfondet raised its holdings in shares of Novo Nordisk A/S by 1.2% in the 3rd quarter. Folketrygdfondet now owns 10,211,913 shares of the company’s stock worth $566,659,000 after purchasing an additional 117,370 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.