Novo Nordisk A/S (NYSE:NVO) Trading Down 2% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO)’s stock price traded down 2% during trading on Tuesday . The stock traded as low as $85.17 and last traded at $85.75. 2,085,345 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 9,575,449 shares. The stock had previously closed at $87.51.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVO shares. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Down 2.9 %

The company has a market capitalization of $381.45 billion, a P/E ratio of 27.51, a PEG ratio of 0.90 and a beta of 0.45. 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 50 day moving average price of $95.10 and a 200 day moving average price of $114.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Novare Capital Management LLC lifted its holdings in Novo Nordisk A/S by 3.2% during the 3rd quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after buying an additional 85 shares during the period. Rosenberg Matthew Hamilton raised its position in shares of Novo Nordisk A/S by 2.5% during the third quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after acquiring an additional 94 shares during the last quarter. Burns J W & Co. Inc. NY lifted its stake in shares of Novo Nordisk A/S by 1.9% in the third quarter. Burns J W & Co. Inc. NY now owns 5,430 shares of the company’s stock worth $647,000 after acquiring an additional 100 shares during the period. Spinnaker Trust boosted its holdings in Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after acquiring an additional 100 shares during the last quarter. Finally, Marco Investment Management LLC increased its position in Novo Nordisk A/S by 1.5% during the 3rd quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock valued at $798,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.