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

Novo Nordisk A/S (NYSE:NVO) shares were down 0.5% during mid-day trading on Wednesday . The stock traded as low as $84.85 and last traded at $84.76. Approximately 1,630,604 shares traded hands during trading, a decline of 83% from the average daily volume of 9,546,138 shares. The stock had previously closed at $85.19.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NVO shares. BMO Capital Markets dropped their price objective on shares of 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. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note 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. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $145.25.

Novo Nordisk A/S Trading Down 1.3 %

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 business has a 50 day moving average of $94.75 and a 200-day moving average of $114.02. The firm has a market capitalization of $377.45 billion, a P/E ratio of 27.21, a PEG ratio of 0.90 and a beta of 0.45.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Great Lakes Retirement Inc. lifted its stake in Novo Nordisk A/S by 6.9% in the fourth quarter. Great Lakes Retirement Inc. now owns 8,871 shares of the company’s stock valued at $763,000 after buying an additional 575 shares during the period. Kentucky Trust Co bought a new position in Novo Nordisk A/S in the 4th quarter worth about $495,000. Beacon Financial Group raised its holdings in shares of Novo Nordisk A/S by 7.8% in the 4th quarter. Beacon Financial Group now owns 2,707 shares of the company’s stock valued at $233,000 after acquiring an additional 195 shares in the last quarter. Warther Private Wealth LLC raised its holdings in shares of Novo Nordisk A/S by 14.2% during the 4th quarter. Warther Private Wealth LLC now owns 12,021 shares of the company’s stock valued at $1,034,000 after buying an additional 1,497 shares in the last quarter. Finally, Leavell Investment Management Inc. increased its stake in Novo Nordisk A/S by 13.6% in the 4th quarter. Leavell Investment Management Inc. now owns 3,968 shares of the company’s stock worth $341,000 after purchasing an additional 475 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.