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

Novo Nordisk A/S (NYSE:NVO)’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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

The business has a 50 day moving average price of $118.58 and a 200-day moving average price of $129.58. The company has a market capitalization of $456.56 billion, a price-to-earnings ratio of 32.93, a P/E/G ratio of 1.31 and a beta of 0.42. 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

Institutional investors have recently modified their holdings of the stock. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S in the second quarter valued at $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC increased its position in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Finally, Halpern Financial Inc. boosted its holdings in Novo Nordisk A/S by 113.0% in the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.