Novo Nordisk A/S (NYSE:NVO) Trading Down 4% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO) dropped 4% during mid-day trading on Thursday . The company traded as low as $46.29 and last traded at $46.5390. Approximately 43,090,467 shares changed hands during mid-day trading, an increase of 246% from the average daily volume of 12,442,310 shares. The stock had previously closed at $48.46.

Analyst Ratings Changes

NVO has been the subject of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 target price (up from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. HSBC set a $70.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, October 1st. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.20.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The stock’s 50 day simple moving average is $55.73 and its two-hundred day simple moving average is $61.69. The stock has a market cap of $207.80 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 2.33 and a beta of 0.65.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm 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. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of Novo Nordisk A/S by 209.8% in the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after purchasing an additional 300 shares in the last quarter. Guerra Advisors Inc acquired a new position in Novo Nordisk A/S during the 3rd quarter worth about $25,000. Stone House Investment Management LLC acquired a new position in Novo Nordisk A/S during the 1st quarter worth about $30,000. Strengthening Families & Communities LLC acquired a new position in Novo Nordisk A/S during the 3rd quarter worth about $30,000. Finally, NewSquare Capital LLC lifted its position in Novo Nordisk A/S by 174.1% during the 2nd quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.