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

Novo Nordisk A/S (NYSE:NVO)’s share price 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.

Analysts Set New Price Targets

NVO has been the subject of several recent analyst reports. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Price Performance

The company has a 50 day moving average price of $99.26 and a 200 day moving average price of $118.18. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $371.79 billion, a P/E ratio of 26.81, a P/E/G ratio of 0.92 and a beta of 0.45.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently modified their holdings of NVO. Raymond James & Associates raised its holdings in Novo Nordisk A/S by 1.0% in the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company’s stock valued at $419,939,000 after acquiring an additional 36,223 shares in the last quarter. Natixis Advisors LLC boosted its position in Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after acquiring an additional 80,070 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares during the period. DSM Capital Partners LLC boosted its position in shares of Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Novo Nordisk A/S by 3.6% during 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 period. Institutional investors and hedge funds 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.