Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.8% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price was down 2.8% during mid-day trading on Tuesday . The company traded as low as $105.77 and last traded at $106.04. Approximately 1,337,813 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 4,429,433 shares. The stock had previously closed at $109.09.

Analyst Ratings Changes

Several brokerages have recently commented on NVO. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. BMO Capital Markets decreased their price objective on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $480.39 billion, a PE ratio of 34.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company’s fifty day moving average price is $120.82 and its two-hundred day moving average price is $130.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Advisor OS LLC raised its position in shares of Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares during the last quarter. Cascade Financial Partners LLC lifted its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock worth $543,000 after buying an additional 84 shares during the period. Novare Capital Management LLC boosted its stake in Novo Nordisk A/S by 3.2% in the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock valued at $325,000 after buying an additional 85 shares in the last quarter. AA Financial Advisors LLC raised its position in Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 2.3% during the second quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares during the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Company Profile

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.