Novo Nordisk A/S (NYSE:NVO) Shares Down 2% - What's Next?

Novo Nordisk A/S (NYSE:NVO - Get Free Report) experienced a decline of 2% on Wednesday. The stock's price fell to a low of $106.60 before closing at $107.91. During the trading session, approximately 4,077,648 shares changed hands, which is a 7% decrease compared to the average trading volume of 4,382,388 shares. The previous closing price for the stock was $110.13.

Analyst Ratings

Recent Ratings Changes

Several analysts have recently provided their insights on Novo Nordisk A/S. Cantor Fitzgerald maintained an "overweight" rating on the stock, setting a price target of $160.00 in a report released on Wednesday. Meanwhile, BMO Capital Markets revised their price target, lowering it from $160.00 to $156.00 while also rating the stock as "outperform" on October 17th. Furthermore, StockNews.com upgraded Novo Nordisk A/S from a "buy" to a "strong-buy" rating in a report published on November 1st. The consensus rating for the stock is predominantly positive, with one analyst giving it a hold rating, six assigning a buy rating, and one indicating a strong buy, according to MarketBeat's data. The average rating for Novo Nordisk A/S is classified as "Buy," with a consensus target price of $144.50.

Stock Performance Overview

Novo Nordisk A/S has a market capitalization of $472.76 billion, with a price-to-earnings (P/E) ratio of 36.08 and a price/earnings-to-growth (P/E/G) ratio of 1.43. The stock has a beta of 0.42, indicating lower volatility compared to the market. The company's current ratio stands at 0.94, the quick ratio is at 0.75, and the debt-to-equity ratio is 0.46. The fifty-day moving average price of the stock is $122.65, and its two-hundred-day moving average price is $130.59.

Recent Earnings Report

The latest earnings report from Novo Nordisk A/S was released on August 7th. The company reported earnings per share (EPS) of $0.65, which missed analysts’ expectations of $0.71 by $0.06. The total revenue for the quarter was $9.82 billion, slightly lower than the forecasted $9.91 billion. The company recorded a net margin of 34.86% and a return on equity of 87.43%. Analysts project that Novo Nordisk A/S will achieve an average EPS of 3.01 for the current year.

Institutional Investor Activity

In terms of institutional ownership, several large investors have recently adjusted their positions in Novo Nordisk A/S. Larson Financial Group LLC increased its stake by 20.3% during the first quarter, acquiring an additional 440 shares to reach a total of 2,604 shares, valued at $334,000. 9258 Wealth Management LLC and Geneos Wealth Management Inc. also boosted their holdings by 7.4% and 11.1%, respectively. Mitchell Capital Management Co. raised its position by 5.9%, and Oxbow Advisors LLC acquired a new stake worth approximately $231,000. Currently, institutional investors and hedge funds hold 11.54% of the company’s stock.

About Novo Nordisk A/S

Novo Nordisk A/S is a global healthcare company primarily focused on researching, developing, manufacturing, and distributing pharmaceutical products. It serves markets in Europe, the Middle East, Africa, China, Hong Kong, Taiwan, North America, and other international regions. The company operates in two main segments: Diabetes and Obesity Care, and Rare Diseases.

Should You Consider Selling Novo Nordisk A/S Shares?

Before making any investment decisions regarding Novo Nordisk A/S, potential investors should consider the latest market analysis and expert recommendations. While the stock has a moderate buy rating, other high-performing stocks may present better investment opportunities at this time. It is essential to stay informed and make decisions based on thorough research.

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