Novo Nordisk A/S (NYSE:NVO) Shares Down 3%

Novo Nordisk A/S (NYSE:NVO – Get Rating)’s share price fell 3% during mid-day trading on Tuesday . The company traded as low as $165.38 and last traded at $165.47. 684,832 shares were traded during trading, a decline of 52% from the average session volume of 1,412,273 shares. The stock had previously closed at $170.52.

Analyst Ratings Changes

NVO has been the subject of a number of recent analyst reports. Credit Suisse Group upgraded shares of Novo Nordisk A/S from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 13th. StockNews.com started coverage on Novo Nordisk A/S in a research note on Thursday, May 18th. They issued a “strong-buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $383.33.

Novo Nordisk A/S Stock Performance

The stock’s 50-day moving average price is $162.13 and its 200-day moving average price is $143.26. The company has a market capitalization of $366.10 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 1.55 and a beta of 0.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.67 and a current ratio of 0.86.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently added to or reduced their stakes in the business. Roundview Capital LLC grew its position in shares of Novo Nordisk A/S by 0.6% in the first quarter. Roundview Capital LLC now owns 18,803 shares of the company’s stock valued at $2,088,000 after purchasing an additional 106 shares during the last quarter. BlackRock Inc. grew its holdings in Novo Nordisk A/S by 45.4% during the 1st quarter. BlackRock Inc. now owns 5,035,879 shares of the company’s stock valued at $559,235,000 after buying an additional 1,571,747 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Novo Nordisk A/S by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 739,585 shares of the company’s stock worth $82,131,000 after buying an additional 6,903 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Novo Nordisk A/S by 12.7% in the first quarter. Blair William & Co. IL now owns 19,466 shares of the company’s stock worth $2,136,000 after acquiring an additional 2,194 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Novo Nordisk A/S by 17.5% in the first quarter. Sei Investments Co. now owns 107,175 shares of the company’s stock valued at $11,913,000 after acquiring an additional 15,996 shares in the last quarter. 6.09% of the stock is owned by institutional investors and hedge funds.

About Novo Nordisk A/S

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Novo Nordisk A/S is a global healthcare company, which engages in the the discovery, development, manufacturing and marketing of pharmaceutical products. It operates through the Diabetes and Obesity Care, and Biopharm segments. The Diabetes and Obesity Care segment includes insulin, GLP-1 and related delivery systems, oral antidiabetic products (OAD), obesity, and other serious chronic diseases.