Novo Nordisk A/S (NYSE:NVO) Trading Down 4.2% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) shares were down 4.2% during trading on Wednesday . The stock traded as low as $59.99 and last traded at $60.2770. Approximately 16,096,389 shares traded hands during trading, a decline of 31% from the average daily volume of 23,253,352 shares. The stock had previously closed at $62.89.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NVO shares. Hsbc Global Res cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 24th. Citigroup started coverage on Novo Nordisk A/S in a research report on Tuesday. They set a “neutral” rating for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research note on Monday, December 29th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a research report on Thursday, January 22nd. Finally, CICC Research assumed coverage on Novo Nordisk A/S in a report on Friday, January 9th. They issued an “outperform” rating and a $73.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.79.

Novo Nordisk A/S Price Performance

The business has a fifty day moving average of $52.75 and a two-hundred day moving average of $54.50. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The firm has a market capitalization of $269.14 billion, a price-to-earnings ratio of 17.52 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.25. The business had revenue of $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in Novo Nordisk A/S by 0.3% in the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after purchasing an additional 63,341 shares in the last quarter. Capital International Investors raised its holdings in Novo Nordisk A/S by 52.4% in the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after buying an additional 6,092,192 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Novo Nordisk A/S by 4,190.8% during the third quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock valued at $776,016,000 after acquiring an additional 13,658,867 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in Novo Nordisk A/S by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock valued at $867,998,000 after purchasing an additional 187,789 shares during the period. Finally, Folketrygdfondet grew its position in shares of Novo Nordisk A/S by 1.2% in the 3rd quarter. Folketrygdfondet now owns 10,211,913 shares of the company’s stock valued at $566,659,000 after buying an additional 117,370 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.