Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.1% – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s stock price traded down 1.1% on Tuesday . The company traded as low as $114.76 and last traded at $116.06. 1,475,328 shares were traded during trading, a decline of 65% from the average session volume of 4,274,455 shares. The stock had previously closed at $117.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. Finally, BMO Capital Markets decreased their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Trading Down 0.7 %

The firm has a market cap of $519.21 billion, a PE ratio of 39.62, a P/E/G ratio of 1.54 and a beta of 0.42. The company’s fifty day moving average price is $127.52 and its two-hundred day moving average price is $131.50. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently added to or reduced their stakes in the stock. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S during the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in Novo Nordisk A/S during the second quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Novo Nordisk A/S during the first quarter worth about $26,000. Orion Capital Management LLC acquired a new position in Novo Nordisk A/S during the first quarter worth about $26,000. Finally, Gilliland Jeter Wealth Management LLC raised its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.