Novo Nordisk A/S (NYSE: NVO)’s stock price has dropped by -2.07 in relation to previous closing price of 190.43. Nevertheless, the company has seen a loss of -6.55% in its stock price over the last five trading days. Reuters reported 2023-09-18 that Novo Nordisk’s shares fell on Monday after financial news agency MarketWire reported that U.S. drug regulators had recently issued a report detailing quality control lapses at the group’s Clayton, North Carolina plant, citing sources.
Is It Worth Investing in Novo Nordisk A/S (NYSE: NVO) Right Now?
Novo Nordisk A/S (NYSE: NVO) has a higher price-to-earnings ratio of 88.13x compared to its average ratio, and the 36-month beta value for NVO is at 0.44. Analysts have varying views on the stock, with 16 analysts rating it as a “buy,” 1 rating it as “overweight,” 6 as “hold,” and 4 as “sell.”
The average price suggested by analysts for NVO is $190.35, which is -$31.26 below the current market price. The public float for NVO is 2.75B, and currently, shorts hold a 0.07% of that float. The average trading volume for NVO on September 18, 2023 was 1.70M shares.
NVO’s Market Performance
The stock of Novo Nordisk A/S (NVO) has seen a -6.55% decrease in the past week, with a 0.95% rise in the past month, and a 15.62% gain in the past quarter. The volatility ratio for the week is 2.07%, and the volatility levels for the past 30 days are at 1.66% for NVO. The simple moving average for the past 20 days is -1.88% for NVO’s stock, with a 19.63% simple moving average for the past 200 days.
NVO Trading at 6.21% from the 50-Day Moving Average
After a stumble in the market that brought NVO to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.57% of loss for the given period.
Volatility was left at 1.66%, however, over the last 30 days, the volatility rate increased by 2.07%, as shares surge +1.14% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +17.99% upper at present.
During the last 5 trading sessions, NVO fell by -7.18%, which changed the moving average for the period of 200-days by +52.63% in comparison to the 20-day moving average, which settled at $190.16. In addition, Novo Nordisk A/S saw 37.79% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for NVO
Equity return is now at value 81.40, with 26.50 for asset returns.
In conclusion, Novo Nordisk A/S (NVO) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.