Novo Nordisk A/S (NYSE:NVO) Shares Down 3.1% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price was down 3.1% on Thursday . The company traded as low as $56.29 and last traded at $57.07. Approximately 25,658,505 shares changed hands during trading, an increase of 18% from the average daily volume of 21,742,299 shares. The stock had previously closed at $58.91.

Wall Street Analyst Weigh In

NVO has been the topic of several research analyst reports. Hsbc Global Res downgraded Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 24th. The Goldman Sachs Group lowered their target price on Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, November 28th. HSBC reiterated a “hold” rating and set a $54.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, December 10th. CICC Research initiated coverage on Novo Nordisk A/S in a research note on Friday, January 9th. They issued an “outperform” rating and a $73.50 price objective on the stock. Finally, Argus reaffirmed a “hold” rating on shares of Novo Nordisk A/S in a report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Hold” and an average target price of $56.21.

Novo Nordisk A/S Stock Performance

The company has a quick ratio of 0.57, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $254.82 billion, a PE ratio of 16.59 and a beta of 0.66. The company has a 50-day moving average price of $50.30 and a two-hundred day moving average price of $55.11.

Novo Nordisk A/S (NYSE:NVO) last issued 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 $11.79 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%. Analysts predict 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 bought and sold shares of the company. Lockheed Martin Investment Management Co. boosted its holdings in shares of Novo Nordisk A/S by 179.4% in the second quarter. Lockheed Martin Investment Management Co. now owns 43,450 shares of the company’s stock worth $2,999,000 after buying an additional 27,900 shares during the last quarter. Martin Capital Partners LLC raised its position in Novo Nordisk A/S by 53.8% in the third quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock worth $6,524,000 after acquiring an additional 41,129 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Novo Nordisk A/S during the 3rd quarter worth $1,294,000. Unified Investment Management bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at $692,000. Finally, Guild Investment Management Inc. increased its stake in shares of Novo Nordisk A/S by 20.7% in the 2nd quarter. Guild Investment Management Inc. now owns 36,995 shares of the company’s stock worth $2,553,000 after purchasing an additional 6,345 shares in the last quarter. Institutional investors own 11.54% of the company’s stock.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.