Novo Nordisk A/S (NVO) Trading Down 9.5%
Novo Nordisk A/S (NYSE:NVO)’s share price fell 9.5% during mid-day trading 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.
A number of brokerages have issued reports on NVO. Zacks Investment Research lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Citigroup Inc. reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a research note on Wednesday. Finally, Goldman Sachs Group Inc. lowered Novo Nordisk A/S from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Three equities research 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 has an average rating of “Buy” and a consensus price target of $61.00.
The firm has a 50 day moving average of $54.35 and a 200-day moving average of $54.33. The company has a market capitalization of $126.88 billion and a price-to-earnings ratio of 24.92.
A number of large investors recently added to or reduced their stakes in the stock. 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 last quarter. Bronfman E.L. Rothschild L.P. purchased a new position in Novo Nordisk A/S during the fourth quarter worth about $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 worth $2,853,000 after buying an additional 514 shares during the period. Bank of Montreal Can boosted 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 during the period. Finally, Roosevelt Investment Group Inc. purchased a new position in 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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