Novo Nordisk A/S (NYSE:NVO) Reaches New 1-Year Low – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $80.05 and last traded at $81.27, with a volume of 13690565 shares traded. The stock had previously closed at $84.62.

Analyst Ratings Changes

A number of brokerages have commented on NVO. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $140.20.

Novo Nordisk A/S Trading Up 0.4 %

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 business’s 50 day moving average is $98.82 and its two-hundred day moving average is $117.93. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.43.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in NVO. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter valued at $28,000. Capital Performance Advisors LLP bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Novo Nordisk A/S in the third quarter valued at $48,000. Finally, M&R Capital Management Inc. boosted its stake in Novo Nordisk A/S by 260.5% during the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock valued at $49,000 after buying an additional 297 shares in the last quarter. 11.54% of the stock is currently 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.