Novo Nordisk A/S (NYSE:NVO) Shares Gap Down - Should You Sell?

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $105.32, but opened at $101.67. Novo Nordisk A/S shares last traded at $101.65, with a volume of 1,106,475 shares.

Analyst Upgrades and Downgrades

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

Novo Nordisk A/S Price Performance

The company's 50-day moving average price is $119.17 and its 200-day moving average price is $129.75. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $456.56 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 1.31 and a beta of 0.42.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of large investors have recently modified their holdings of NVO. Savoie Capital LLC acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $1,191,000. Brophy Wealth Management LLC purchased a new position in shares of Novo Nordisk A/S during the third quarter worth about $878,000. Executive Wealth Management LLC purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $2,417,000. Abel Hall LLC grew its stake in Novo Nordisk A/S by 2.9% during the 3rd quarter. Abel Hall LLC now owns 5,807 shares of the company's stock worth $691,000 after buying an additional 162 shares during the last quarter. Finally, Nabity Jensen Investment Management Inc acquired a new position in Novo Nordisk A/S during the third quarter worth approximately $259,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.