Novo Nordisk A/S (NYSE:NVO) Shares Gap Down – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) gapped down prior to trading on Friday . The stock had previously closed at $66.15, but opened at $64.40. Novo Nordisk A/S shares last traded at $64.10, with a volume of 6,047,157 shares changing hands.

Analysts Set New Price Targets

NVO has been the topic of a number of recent research reports. Dbs Bank cut shares of Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, April 25th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, BNP Paribas assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, April 15th. They issued an “underperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $135.00.

Novo Nordisk A/S Stock Down 2.7%

The company has a market cap of $288.75 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $67.31 and its 200-day moving average price is $84.38.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $11.87 billion for the quarter. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors have recently added to or reduced their stakes in NVO. GQG Partners LLC lifted its position in Novo Nordisk A/S by 74.7% in the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after acquiring an additional 5,556,460 shares in the last quarter. Nuveen LLC bought a new stake in Novo Nordisk A/S in the 1st quarter valued at $370,272,000. Raymond James Financial Inc. bought a new stake in Novo Nordisk A/S in the 4th quarter valued at $404,910,000. Loomis Sayles & Co. L P lifted its position in Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock valued at $537,189,000 after acquiring an additional 2,639,693 shares in the last quarter. 11.54% of the stock is owned by 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.