Novo Nordisk A/S (NYSE:NVO) Trading Down 1.9% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 1.9% on Friday . The stock traded as low as $45.15 and last traded at $45.62. Approximately 19,828,434 shares were traded during trading, an increase of 59% from the average daily volume of 12,478,707 shares. The stock had previously closed at $46.51.

Wall Street Analysts Forecast Growth

NVO has been the subject of several research analyst reports. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Wednesday, September 17th. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $59.00 to $47.00 in a report on Monday, September 29th. Jefferies Financial Group initiated coverage on shares of Novo Nordisk A/S in a report on Monday, October 27th. They set an “underperform” rating for the company. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 target price (up previously from $50.00) on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.20.

Novo Nordisk A/S Price Performance

The company’s 50-day simple moving average is $55.54 and its 200 day simple moving average is $61.58. The company has a market capitalization of $203.69 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.33 and a beta of 0.65. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.25. The business had revenue of $11.74 billion during the quarter, compared to analyst estimates of $11.98 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect 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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in shares of Novo Nordisk A/S by 0.3% in the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock valued at $1,303,466,000 after purchasing an additional 63,341 shares during the period. Loomis Sayles & Co. L P grew its stake in Novo Nordisk A/S by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock valued at $867,998,000 after buying an additional 187,789 shares during the last quarter. Folketrygdfondet increased its stake in shares of Novo Nordisk A/S by 1.2% in the third quarter. Folketrygdfondet now owns 10,211,913 shares of the company’s stock worth $566,659,000 after purchasing an additional 117,370 shares during the period. Kingstone Capital Partners Texas LLC increased its position in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Finally, Sustainable Growth Advisers LP increased its position in Novo Nordisk A/S by 11.7% during the second quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after acquiring an additional 649,390 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.