Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2% - Here's Why

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares fell 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 trading, a decline of 78% from the average session volume of 9,575,449 shares. The stock had previously closed at $87.51.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of research reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. StockNews.com downgraded Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a report on Sunday, December 29th. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a report on Monday, December 23rd. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. One 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, Novo Nordisk A/S has a consensus rating of "Buy" and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $381.45 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 0.90 and a beta of 0.45. 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 stock's fifty day moving average is $95.10 and its two-hundred day moving average is $114.43.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently modified their holdings of the stock. WCM Investment Management LLC boosted its position in shares of Novo Nordisk A/S by 1.0% in the fourth quarter. WCM Investment Management LLC now owns 4,031,124 shares of the company's stock valued at $345,588,000 after acquiring an additional 40,475 shares during the period. Raymond James & Associates grew its position in shares of Novo Nordisk A/S by 1.0% during the 3rd quarter. Raymond James & Associates now owns 3,526,821 shares of the company's stock worth $419,939,000 after purchasing an additional 36,223 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 2.7% during the third quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company's stock worth $366,125,000 after purchasing an additional 80,070 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Novo Nordisk A/S by 10,608.4% in the third quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company's stock valued at $215,942,000 after buying an additional 1,796,635 shares during the period. Finally, LPL Financial LLC grew its position in Novo Nordisk A/S by 3.6% during the third quarter. LPL Financial LLC now owns 1,362,782 shares of the company's stock worth $162,266,000 after buying an additional 47,496 shares in the last quarter. 11.54% of the stock is owned by institutional investors.

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.

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