Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.9% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s share price was down 1.9% during trading on Friday . The stock traded as low as $48.03 and last traded at $48.2230. Approximately 12,462,180 shares were traded during trading, a decline of 1% from the average daily volume of 12,643,753 shares. The stock had previously closed at $49.16.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NVO shares. HSBC set a $70.00 target price on shares of Novo Nordisk A/S in a research note on Wednesday, October 1st. Zacks Research upgraded shares of Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Rothschild Redb upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.20.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The company has a market capitalization of $215.32 billion, a PE ratio of 13.25, a P/E/G ratio of 2.33 and a beta of 0.65. The stock has a 50-day simple moving average of $54.55 and a 200 day simple moving average of $61.01.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, November 5th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.25. The business had revenue of $11.74 billion during the quarter, compared to the consensus estimate of $11.98 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. Novo Nordisk A/S has set its FY 2025 guidance at EPS. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its position in Novo Nordisk A/S by 4,190.8% during the third quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after buying an additional 13,658,867 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its position in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock valued at $690,560,000 after acquiring an additional 10,001,898 shares in the last quarter. Capital International Investors boosted its stake in shares of Novo Nordisk A/S by 52.4% during the third quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock valued at $982,969,000 after acquiring an additional 6,092,192 shares during the last quarter. Boston Partners purchased a new stake in Novo Nordisk A/S during the 3rd quarter worth about $310,199,000. Finally, Nuveen LLC acquired a new position in Novo Nordisk A/S in the 1st quarter valued at about $370,272,000. 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.