Novo Nordisk A/S (NYSE:NVO) Trading Down 1%

Novo Nordisk A/S (NYSE:NVO)’s share price fell 1% during trading on Friday . The stock traded as low as $121.29 and last traded at $122.76. 3,114,437 shares traded hands during trading, a decline of 35% from the average session volume of 4,823,821 shares. The stock had previously closed at $124.02.

Analyst Ratings Changes

A number of brokerages have issued reports on NVO. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Finally, UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They issued a “neutral” rating for the company. Two analysts have 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Price Performance

The stock’s 50-day simple moving average is $127.20 and its two-hundred day simple moving average is $112.93. The company has a market capitalization of $552.19 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 2.07 and a beta of 0.43. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 92.21%. The firm had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Equities research analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds have recently made changes to their positions in NVO. Jennison Associates LLC increased its position in shares of Novo Nordisk A/S by 100.3% during the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after purchasing an additional 11,727,507 shares in the last quarter. Polen Capital Management LLC acquired a new stake in shares of Novo Nordisk A/S in the third quarter valued at about $718,995,000. FMR LLC raised its position in shares of Novo Nordisk A/S by 122.7% in the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after buying an additional 6,654,614 shares during the last quarter. Morgan Stanley lifted its stake in shares of Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after buying an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after acquiring an additional 4,350,862 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

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.