Investors Sell Novo Nordisk A/S (NVO) on Strength (NVO)
Traders sold shares of Novo Nordisk A/S (NYSE:NVO) on strength during trading hours on Monday. $10.02 million flowed into the stock on the tick-up and $26.81 million flowed out of the stock on the tick-down, for a money net flow of $16.79 million out of the stock. Of all stocks tracked, Novo Nordisk A/S had the 0th highest net out-flow for the day. Novo Nordisk A/S traded up $0.08 for the day and closed at $57.05
Several research firms have recently issued reports on NVO. Zacks Investment Research lowered Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research report on Monday, July 4th. Goldman Sachs Group Inc. lowered Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, June 28th. Three 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 stock. Novo Nordisk A/S presently has an average rating of “Buy” and a consensus price target of $61.00.
The firm has a market cap of $145.15 billion and a PE ratio of 28.55. The firm has a 50-day moving average of $54.13 and a 200-day moving average of $54.29.
Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Friday, April 29th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. Equities research analysts predict that Novo Nordisk A/S will post $2.25 EPS for the current year.
Several hedge funds and institutional investors recently made changes to their positions in the company. Roosevelt Investment Group Inc. bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $24,033,000. WBI Investments Inc. bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $27,205,000. Bronfman E.L. Rothschild L.P. bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $1,718,000. Pittenger & Anderson Inc. increased 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 valued at $2,853,000 after buying an additional 514 shares during the period. Finally, Hartline Investment Corp increased its position in shares of 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 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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