Novo Nordisk A/S (NYSE:NVO) Sets New 1-Year Low – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) hit a new 52-week low on Wednesday . The stock traded as low as $73.20 and last traded at $73.57, with a volume of 8872312 shares changing hands. The stock had previously closed at $75.33.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NVO shares. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Down 2.3 %

The firm has a market cap of $330.15 billion, a PE ratio of 22.36, a PEG ratio of 0.90 and a beta of 0.42. The business’s 50 day moving average price is $83.01 and its 200 day moving average price is $99.94. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is 47.72%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently modified their holdings of NVO. Bank of America Corp DE boosted its holdings in shares of Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company’s stock worth $1,332,655,000 after purchasing an additional 1,165,955 shares during the last quarter. GQG Partners LLC increased its position in shares of Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after acquiring an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after acquiring an additional 2,947,771 shares during the period. Folketrygdfondet lifted its holdings in shares of Novo Nordisk A/S by 0.5% in the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company’s stock worth $765,917,000 after acquiring an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Novo Nordisk A/S by 1.5% during the 4th quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company’s stock worth $715,084,000 after purchasing an additional 123,681 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.