Novo Nordisk A/S (NYSE:NVO) Shares Gap Down to $145.42

Novo Nordisk A/S (NYSE:NVO)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $145.42, but opened at $141.69. Novo Nordisk A/S shares last traded at $139.79, with a volume of 1,867,828 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NVO shares. Argus upped their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price objective on shares of Novo Nordisk A/S in a report on Tuesday, June 25th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.67.

Novo Nordisk A/S Stock Down 2.1 %

The business’s fifty day moving average price is $135.00 and its 200 day moving average price is $123.71. The firm has a market capitalization of $639.16 billion, a price-to-earnings ratio of 49.28, a PEG ratio of 1.42 and a beta of 0.41. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.17.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Thursday, May 2nd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Novo Nordisk A/S had a net margin of 36.56% and a return on equity of 91.70%. The business had revenue of $9.52 billion during the quarter, compared to analysts’ expectations of $9.23 billion. On average, equities analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Transcend Capital Advisors LLC raised its stake in shares of Novo Nordisk A/S by 18.6% during the second quarter. Transcend Capital Advisors LLC now owns 3,198 shares of the company’s stock worth $457,000 after purchasing an additional 501 shares during the last quarter. Confluence Investment Management LLC raised its position in Novo Nordisk A/S by 3.9% during the 2nd quarter. Confluence Investment Management LLC now owns 11,264 shares of the company’s stock worth $1,608,000 after buying an additional 420 shares during the last quarter. Bank of New Hampshire lifted its stake in shares of Novo Nordisk A/S by 6.6% in the 2nd quarter. Bank of New Hampshire now owns 14,132 shares of the company’s stock worth $2,017,000 after acquiring an additional 875 shares during the period. Bright Futures Wealth Management LLC. purchased a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $1,963,000. Finally, Old Port Advisors acquired a new position in shares of Novo Nordisk A/S during the first quarter worth about $537,000. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.