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

Shares of Novo Nordisk A/S (NYSE:NVO) were down 2.8% during trading on Tuesday . The company traded as low as $105.77 and last traded at $106.04. Approximately 1,337,813 shares changed hands 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.

Wall Street Analyst Weigh In

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

Novo Nordisk A/S Stock Down 1.9 %

The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $480.39 billion, a PE ratio of 34.32, a P/E/G ratio of 1.48 and a beta of 0.42. The stock’s fifty day simple moving average is $120.82 and its 200-day simple moving average is $130.22.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advisor OS LLC grew its stake in shares of Novo Nordisk A/S by 0.6% during the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after acquiring an additional 82 shares during the period. Cascade Financial Partners LLC grew 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 valued at $543,000 after purchasing an additional 84 shares in the last quarter. Novare Capital Management LLC increased its position in shares of Novo Nordisk A/S by 3.2% in the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares during the last quarter. AA Financial Advisors LLC lifted its position in Novo Nordisk A/S by 3.2% during the second 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 stake in Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after buying an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.