Novo Nordisk A/S (NYSE:NVO) Shares Gap Down – Time to Sell?

Novo Nordisk A/S (NYSE:NVO) gapped down prior to trading on Tuesday . The stock had previously closed at $84.62, but opened at $82.92. Novo Nordisk A/S shares last traded at $82.12, with a volume of 1,395,488 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have commented on NVO. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. 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 company presently has a consensus rating of “Buy” and a consensus price target of $140.20.

Novo Nordisk A/S Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.75. The company has a market cap of $371.79 billion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 0.92 and a beta of 0.45. The firm’s fifty day moving average price is $99.26 and its 200-day moving average price is $118.18.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter worth $25,000. Daiwa Securities Group Inc. purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at $28,000. Capital Performance Advisors LLP acquired a new position in Novo Nordisk A/S during the third quarter valued at $42,000. Carolina Wealth Advisors LLC purchased a new stake in Novo Nordisk A/S in the 3rd quarter worth about $48,000. Finally, M&R Capital Management Inc. increased its holdings in shares of Novo Nordisk A/S by 260.5% in the 3rd quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock valued at $49,000 after purchasing an additional 297 shares during the period. 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.