3 Drugs Stocks Dragging The Industry Down

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Two out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 68 points (0.4%) at 17,048 as of Thursday, Aug. 21, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,747 issues advancing vs. 1,215 declining with 171 unchanged.

The Drugs industry currently sits down 0.9% versus the S&P 500, which is up 0.3%. On the negative front, top decliners within the industry include Mylan ( MYL), down 1.5%, Merck ( MRK), down 0.7% and Biogen Idec ( BIIB), down 0.6%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Novo Nordisk A/S ( NVO) is one of the companies pushing the Drugs industry lower today. As of noon trading, Novo Nordisk A/S is down $0.24 (-0.5%) to $45.44 on heavy volume. Thus far, 1.0 million shares of Novo Nordisk A/S exchanged hands as compared to its average daily volume of 882,100 shares. The stock has ranged in price between $45.01-$45.78 after having opened the day at $45.14 as compared to the previous trading day's close of $45.69.

Novo Nordisk A/S engages in the discovery, development, manufacture, and marketing of pharmaceutical products primarily in Denmark. It operates in two segments, Diabetes Care and Biopharmaceuticals. Novo Nordisk A/S has a market cap of $124.4 billion and is part of the health care sector. Shares are up 23.6% year-to-date as of the close of trading on Wednesday. Currently there are 2 analysts that rate Novo Nordisk A/S a buy, 1 analyst rates it a sell, and 1 rates it a hold.

TheStreet Ratings rates Novo Nordisk A/S as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Novo Nordisk A/S Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

If you liked this article you might like

Novo Nordisk Shares Leap Higher After Solid Earnings and Full-Year Sales Upgrade

Nevada Senate Passes Bill to Force Diabetes Drug Manufacturers to Disclose Pricing Practices

Dow Holds Lower After House Passes Health Care Vote, Crude Falls

Daily Earnings Round-Up

5 Things You Must Know Before the Market Opens Wednesday