Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.5% – Here’s Why

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. One analyst has 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 data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Trading Down 1.3 %

The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $377.45 billion, a P/E ratio of 27.21, a P/E/G ratio of 0.90 and a beta of 0.45. The company’s 50 day simple moving average is $94.75 and its 200-day simple moving average is $114.02.

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the stock. WCM Investment Management LLC grew its holdings in Novo Nordisk A/S by 1.0% in the fourth quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company’s stock worth $345,588,000 after purchasing an additional 40,475 shares during the last quarter. Raymond James & Associates grew its holdings in Novo Nordisk A/S by 1.0% in the third 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 grew its holdings in Novo Nordisk A/S by 2.7% in the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after purchasing an additional 1,796,635 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Novo Nordisk A/S by 3.6% in the third 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 last quarter. Institutional investors own 11.54% of the company’s stock.

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.