Novo Nordisk A/S (NYSE:NVO) Sets New 52-Week Low Following Analyst Downgrade

Novo Nordisk A/S (NYSE:NVO) shares hit a new 52-week low on Tuesday after HSBC downgraded the stock from a buy rating to a hold rating. The stock traded as low as $43.08 and last traded at $44.99, with a volume of 73421832 shares. The stock had previously closed at $47.63.

Several other research firms have also recently issued reports on NVO. TD Cowen lowered their price objective on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Finally, Rothschild Redb upgraded shares of Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $59.20.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Hawaiian Bank raised its holdings in shares of Novo Nordisk A/S by 0.6% during the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after purchasing an additional 142 shares during the period. Anchor Investment Management LLC grew its position in shares of Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock valued at $944,000 after buying an additional 150 shares during the last quarter. Foster Dykema Cabot & Partners LLC grew its position in shares of Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock valued at $319,000 after buying an additional 166 shares during the last quarter. Werba Rubin Papier Wealth Management raised its stake in Novo Nordisk A/S by 4.1% during the second quarter. Werba Rubin Papier Wealth Management now owns 4,378 shares of the company’s stock worth $302,000 after acquiring an additional 173 shares during the period. Finally, Atwood & Palmer Inc. lifted its holdings in Novo Nordisk A/S by 31.8% in the second quarter. Atwood & Palmer Inc. now owns 737 shares of the company’s stock worth $51,000 after acquiring an additional 178 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Stock Performance

The company has a market capitalization of $200.88 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 2.33 and a beta of 0.65. The stock has a 50 day simple moving average of $53.71 and a 200 day simple moving average of $60.14. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

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, topping the consensus estimate of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.74 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

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.