Novo Nordisk A/S (NYSE:NVO) Shares Down 5.2% – Should You Sell?

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. 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 upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BMO Capital Markets cut 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 report on Monday, December 23rd. One investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Stock Down 5.2 %

The company’s 50-day simple moving average is $97.76 and its 200 day simple moving average is $116.89. 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 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.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVO. Massachusetts Financial Services Co. MA lifted its position in Novo Nordisk A/S by 2.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 77,494 shares of the company’s stock worth $11,061,000 after buying an additional 1,860 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Novo Nordisk A/S by 19.4% during the 2nd quarter. Hsbc Holdings PLC now owns 54,804 shares of the company’s stock worth $7,852,000 after purchasing an additional 8,922 shares during the period. King Luther Capital Management Corp raised its position in Novo Nordisk A/S by 11.7% in the 2nd quarter. King Luther Capital Management Corp now owns 28,171 shares of the company’s stock worth $4,021,000 after purchasing an additional 2,960 shares during the period. AE Wealth Management LLC lifted its stake in Novo Nordisk A/S by 161.5% in the second quarter. AE Wealth Management LLC now owns 19,319 shares of the company’s stock worth $2,758,000 after purchasing an additional 11,930 shares during the last quarter. Finally, Merriman Wealth Management LLC boosted its position in shares of Novo Nordisk A/S by 6.7% during the second quarter. Merriman Wealth Management LLC now owns 2,325 shares of the company’s stock valued at $332,000 after buying an additional 145 shares during the period. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.