Novo Nordisk A/S (NYSE:NVO) Shares Down 5.2% – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) dropped 5.2% on Monday . The stock traded as low as $78.17 and last traded at $78.74. Approximately 21,239,835 shares traded 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.

Analysts Set New Price Targets

A number of research firms recently commented on NVO. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report 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, UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Price Performance

The firm’s 50 day moving average is $97.76 and its 200 day moving average is $116.89. The firm has a market cap of $353.33 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 0.92 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75.

Hedge Funds Weigh In On Novo Nordisk A/S

Large investors have recently modified their holdings of the stock. Novare Capital Management LLC raised its holdings in Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after acquiring an additional 85 shares during the last quarter. Steel Grove Capital Advisors LLC lifted its stake in Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after acquiring an additional 86 shares during the period. Rosenberg Matthew Hamilton grew its position in Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after purchasing an additional 94 shares during the period. Burns J W & Co. Inc. NY boosted its stake in shares of Novo Nordisk A/S by 1.9% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after buying an additional 100 shares during the last quarter. Finally, Spinnaker Trust increased its position in Novo Nordisk A/S by 1.1% during the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after acquiring an additional 100 shares during the last quarter. 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.