Novo Nordisk A/S (NYSE:NVO) Trading Down 1.2% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) shares traded down 1.2% during mid-day trading on Wednesday . The stock traded as low as $72.16 and last traded at $72.69. 2,526,132 shares were traded during trading, a decline of 54% from the average session volume of 5,437,857 shares. The stock had previously closed at $73.60.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of 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. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

The business’s fifty day moving average is $82.52 and its two-hundred day moving average is $99.54. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $311.23 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating the consensus estimate 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%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Institutional Trading of Novo Nordisk A/S

A number of hedge funds have recently added to or reduced their stakes in NVO. Center for Financial Planning Inc. lifted its stake in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth $29,000. Finally, Transce3nd LLC purchased a new position in Novo Nordisk A/S in the 4th quarter valued at about $33,000. 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.