Novo Nordisk A/S (NYSE:NVO) Hits New 12-Month Low – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $57.28 and last traded at $58.03, with a volume of 8520665 shares changing hands. The stock had previously closed at $62.88.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NVO shares. BMO Capital Markets reiterated a “market perform” rating and set a $64.00 target price (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. BNP Paribas started coverage on shares of Novo Nordisk A/S in a research report on Tuesday. They set an “underperform” rating for the company. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $135.00.

Novo Nordisk A/S Stock Down 7.2 %

The business’s 50 day simple moving average is $76.55 and its 200 day simple moving average is $92.55. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $261.99 billion, a PE ratio of 17.69, a PEG ratio of 0.90 and a beta of 0.61.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (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 forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, April 8th. Investors of record on Monday, March 31st were paid a dividend of $0.7874 per share. The ex-dividend date was Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is currently 49.54%.

Institutional Trading of Novo Nordisk A/S

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

About Novo Nordisk A/S

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.