Novo Nordisk A/S (NVO) Shares Gap Down to $54.56
Novo Nordisk A/S (NYSE:NVO) shares gapped down before the market opened on Monday . The stock had previously closed at $54.14, but opened at $54.56. Novo Nordisk A/S shares last traded at $55.46, with a volume of 432,664 shares changing hands.
NVO has been the topic of a number of recent research reports. Citigroup Inc. restated a “buy” rating on shares of Novo Nordisk A/S in a report on Friday, April 1st. Goldman Sachs Group Inc. downgraded shares of Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, May 3rd. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $61.00.
The stock has a market cap of $140.85 billion and a PE ratio of 27.72. The company has a 50-day moving average of $54.22 and a 200 day moving average of $54.38.
Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Friday, April 29th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. Analysts expect that Novo Nordisk A/S will post $2.27 earnings per share for the current fiscal year.
Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in Novo Nordisk A/S by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 398,280 shares of the company’s stock valued at $23,132,000 after buying an additional 2,676 shares during the period. WBI Investments Inc. bought a new position in Novo Nordisk A/S during the fourth quarter valued at $27,205,000. Bronfman E.L. Rothschild L.P. bought a new position in Novo Nordisk A/S during the fourth quarter valued at $1,718,000. Pittenger & Anderson Inc. boosted its position in Novo Nordisk A/S by 1.1% in the fourth quarter. Pittenger & Anderson Inc. now owns 49,119 shares of the company’s stock valued at $2,853,000 after buying an additional 514 shares during the period. Finally, Hartline Investment Corp boosted its position in Novo Nordisk A/S by 13.9% in the fourth quarter. Hartline Investment Corp now owns 100,437 shares of the company’s stock valued at $5,833,000 after buying an additional 12,242 shares during the period.
Novo Nordisk A/S is a healthcare company. The Company is engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. It has a range of diabetes product portfolio, including a portfolio of modern insulins as well as a human once-daily GLP-1 analog. It operates in two segments: diabetes care and biopharmaceuticals.
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