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

Novo Nordisk A/S (NYSE:NVO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $66.15, but opened at $64.40. Novo Nordisk A/S shares last traded at $64.10, with a volume of 6,047,157 shares.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVO. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. BNP Paribas began coverage on Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating on the stock. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th. BMO Capital Markets reissued a “market perform” rating and issued a $64.00 target price (down from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $135.00.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The company’s 50 day moving average price is $67.31 and its 200 day moving average price is $84.38. The firm has a market capitalization of $288.75 billion, a P/E ratio of 19.56, a PEG ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. The business had revenue of $11.87 billion for the quarter. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently modified their holdings of the stock. Empowered Funds LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $3,157,000. Peloton Wealth Strategists bought a new position in Novo Nordisk A/S in the first quarter valued at approximately $880,000. Ascent Group LLC boosted its stake in Novo Nordisk A/S by 30.6% in the first quarter. Ascent Group LLC now owns 26,532 shares of the company’s stock valued at $1,842,000 after acquiring an additional 6,218 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Novo Nordisk A/S by 30.6% in the first quarter. Signature Estate & Investment Advisors LLC now owns 8,221 shares of the company’s stock valued at $571,000 after acquiring an additional 1,925 shares during the last quarter. Finally, Guardian Partners Inc. boosted its stake in Novo Nordisk A/S by 1.1% in the first quarter. Guardian Partners Inc. now owns 128,738 shares of the company’s stock valued at $8,940,000 after acquiring an additional 1,347 shares during the last quarter. 11.54% of the stock is owned by 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.