Novo Nordisk A/S (NVO) Stock Price Down 9.5%
Novo Nordisk A/S (NYSE:NVO)’s share price dropped 9.5% on Friday . The company traded as low as $48.88 and last traded at $49.93, with a volume of 6,703,736 shares changing hands. The stock had previously closed at $55.20.
NVO has been the topic of a number of research reports. Zacks Investment Research downgraded Novo Nordisk A/S from a “hold” rating to a “sell” rating in a report on Monday, July 4th. Goldman Sachs Group Inc. cut Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Novo Nordisk A/S in a research note on Wednesday. Three analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Novo Nordisk A/S presently has an average rating of “Buy” and a consensus target price of $61.00.
The company has a market capitalization of $126.88 billion and a PE ratio of 24.74. The stock has a 50 day moving average price of $54.30 and a 200 day moving average price of $54.29.
A number of institutional investors recently modified their holdings of NVO. Rhumbline Advisers boosted its position in shares of Novo Nordisk A/S by 5.6% in the fourth quarter. Rhumbline Advisers now owns 20,800 shares of the company’s stock worth $1,208,000 after buying an additional 1,100 shares during the period. Bronfman E.L. Rothschild L.P. bought a new position in shares of Novo Nordisk A/S during the fourth quarter worth about $1,718,000. Pittenger & Anderson Inc. boosted its position in shares of Novo Nordisk A/S by 1.1% in the fourth quarter. Pittenger & Anderson Inc. now owns 49,119 shares of the company’s stock worth $2,853,000 after buying an additional 514 shares during the period. Bank of Montreal Can boosted its position in shares of Novo Nordisk A/S by 16.1% in the fourth quarter. Bank of Montreal Can now owns 64,142 shares of the company’s stock worth $3,726,000 after buying an additional 8,892 shares during the period. Finally, Roosevelt Investment Group Inc. bought a new position in shares of Novo Nordisk A/S during the fourth quarter worth about $24,033,000.
Novo Nordisk A/S is a healthcare company. The Company is engaged in discovery, development, manufacturing and marketing of pharmaceutical products. The Company’s business segments include diabetes and obesity care, and biopharmaceuticals. The diabetes and obesity care segment covers insulins, glucagon-like peptide-1 (GLP-1), other protein-related products (such as glucagon, protein-related delivery systems and needles), oral anti-diabetic drugs and obesity.
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