Novo Nordisk A/S (NYSE:NVO) Shares Down 1.9% – Here’s Why

Novo Nordisk A/S (NYSE:NVO) was down 1.9% during trading on Friday . The company traded as low as $45.15 and last traded at $45.62. Approximately 19,828,434 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 12,478,707 shares. The stock had previously closed at $46.51.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays reaffirmed an “equal weight” rating on shares of Novo Nordisk A/S in a research report on Wednesday, July 30th. Jefferies Financial Group initiated coverage on shares of Novo Nordisk A/S in a research report on Monday, October 27th. They issued an “underperform” rating for the company. Morgan Stanley cut shares of Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $59.00 to $47.00 in a research note on Monday, September 29th. HSBC set a $70.00 price objective on Novo Nordisk A/S in a research note on Wednesday, October 1st. Finally, Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $59.20.

Novo Nordisk A/S Price Performance

The stock has a market capitalization of $203.69 billion, a P/E ratio of 12.53, a PEG ratio of 2.33 and a beta of 0.65. The company’s 50 day simple moving average is $55.54 and its two-hundred day simple moving average is $61.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, November 5th. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.77 by $0.25. The business had revenue of $11.74 billion for the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Kingstone Capital Partners Texas LLC grew its holdings in Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after acquiring an additional 10,001,898 shares during the last quarter. Nuveen LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $370,272,000. SG Americas Securities LLC increased its holdings in shares of Novo Nordisk A/S by 2,101.5% in the third quarter. SG Americas Securities LLC now owns 2,383,176 shares of the company’s stock valued at $132,242,000 after purchasing an additional 2,274,925 shares in the last quarter. Amundi raised its position in Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company’s stock worth $331,576,000 after purchasing an additional 1,627,051 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Novo Nordisk A/S by 101.4% in the 2nd quarter. Bank of Montreal Can now owns 2,475,300 shares of the company’s stock worth $170,845,000 after purchasing an additional 1,246,467 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, 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.