Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.6% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO) shares dropped 2.6% during trading on Tuesday . The company traded as low as $59.96 and last traded at $60.6950. Approximately 30,283,584 shares changed hands during trading, an increase of 25% from the average daily volume of 24,263,975 shares. The stock had previously closed at $62.33.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of recent research reports. Argus reissued a “hold” rating on shares of Novo Nordisk A/S in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Novo Nordisk A/S in a research report on Monday, December 29th. Zacks Research upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, January 9th. HSBC restated a “hold” rating and issued a $54.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Novo Nordisk A/S from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.21.

Novo Nordisk A/S Price Performance

The company has a 50-day moving average of $51.18 and a 200 day moving average of $54.82. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.78. The firm has a market cap of $271.00 billion, a P/E ratio of 17.64 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.25. Novo Nordisk A/S had a return on equity of 73.50% and a net margin of 32.76%.The firm had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.98 billion. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently added to or reduced their stakes in the company. RPG Investment Advisory LLC grew its stake in Novo Nordisk A/S by 50.3% during the fourth quarter. RPG Investment Advisory LLC now owns 229,265 shares of the company’s stock worth $11,665,000 after buying an additional 76,691 shares during the last quarter. Cohen Capital Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 17.0% in the 4th quarter. Cohen Capital Management Inc. now owns 10,312 shares of the company’s stock worth $525,000 after acquiring an additional 1,500 shares in the last quarter. Meridian Investment Counsel Inc. grew its position in Novo Nordisk A/S by 12.2% during the 4th quarter. Meridian Investment Counsel Inc. now owns 62,252 shares of the company’s stock worth $3,167,000 after acquiring an additional 6,760 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Novo Nordisk A/S by 13.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 41,591 shares of the company’s stock worth $2,116,000 after acquiring an additional 5,064 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in Novo Nordisk A/S by 35.8% during the 4th quarter. Stratos Wealth Advisors LLC now owns 6,248 shares of the company’s stock valued at $318,000 after purchasing an additional 1,648 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.