Novo Nordisk A/S (NYSE:NVO) hit a new 52-week low on Friday . The company traded as low as $45.88 and last traded at $45.97, with a volume of 7,375,222 shares trading hands. The stock had previously closed at $46.46.

NVO has been the subject of a number of recent analyst reports. Bank of America Corp. cut shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Monday. Goldman Sachs Group Inc. cut shares of Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, June 28th. Zacks Investment Research cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Citigroup Inc. reiterated a “buy” rating on shares of Novo Nordisk A/S in a research report on Wednesday, August 3rd. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $61.00.

The firm has a market capitalization of $116.72 billion and a price-to-earnings ratio of 21.769. The company’s 50-day moving average is $53.77 and its 200-day moving average is $54.11.

The company also recently announced a dividend, which will be paid on Tuesday, August 23rd. Shareholders of record on Monday, August 15th will be issued a $0.326 dividend. The ex-dividend date is Thursday, August 11th.

Several hedge funds and institutional investors recently bought and sold shares of the stock. Morgan Stanley increased its position in Novo Nordisk A/S by 7.1% in the fourth quarter. Morgan Stanley now owns 1,187,053 shares of the company’s stock worth $68,945,000 after buying an additional 79,104 shares in the last quarter. Bank of Montreal Can increased its position in 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 in the last quarter. Finally, Rhumbline Advisers increased its stake in 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.

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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