Novo Nordisk A/S (NYSE:NVO) Shares Gap Down - Here's What Happened

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $84.62, but opened at $82.92. Novo Nordisk A/S shares last traded at $82.12, with a volume of 1,395,488 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVO. UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research report on Wednesday, January 8th. BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, December 2nd. BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, December 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Finally, StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Sunday, December 29th. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of "Buy" and an average target price of $140.20.

Novo Nordisk A/S Stock Up 0.4 %

The firm's 50-day moving average is $98.82 and its 200 day moving average is $117.93. The firm has a market capitalization of $373.61 billion, a P/E ratio of 26.94, a PEG ratio of 0.92 and a beta of 0.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 0.94.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NVO. Natixis Advisors LLC boosted its position in Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company's stock worth $366,125,000 after acquiring an additional 80,070 shares during the last quarter. Norman Fields Gottscho Capital Management LLC grew its position in Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company's stock valued at $5,482,000 after purchasing an additional 19,870 shares in the last quarter. Talbot Financial LLC bought a new position in Novo Nordisk A/S in the fourth quarter valued at $4,066,000. Versant Capital Management Inc bought a new stake in Novo Nordisk A/S during the 4th quarter worth about $86,000. Finally, Zions Bancorporation N.A. boosted its stake in shares of Novo Nordisk A/S by 57.0% during the 3rd quarter. Zions Bancorporation N.A. now owns 18,535 shares of the company's stock worth $2,207,000 after buying an additional 6,726 shares during the last quarter. 11.54% of the stock is owned by institutional investors and hedge funds.

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.