Novo Nordisk A/S (NYSE:NVO) Trading Down 0.4% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price was down 0.4% during mid-day trading on Tuesday . The company traded as low as $82.87 and last traded at $83.59. Approximately 1,750,992 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 9,237,928 shares. The stock had previously closed at $83.91.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

The business’s 50-day moving average price is $90.96 and its 200 day moving average price is $110.91. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $377.51 billion, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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%. Analysts anticipate that Novo Nordisk A/S will post 3.86 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 paid a $0.7874 dividend. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is currently 21.88%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC raised its position in Novo Nordisk A/S by 40.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 63,962 shares of the company’s stock valued at $7,616,000 after purchasing an additional 18,370 shares during the last quarter. Procyon Advisors LLC increased its stake in shares of Novo Nordisk A/S by 6.7% during the third quarter. Procyon Advisors LLC now owns 63,649 shares of the company’s stock valued at $7,579,000 after buying an additional 4,010 shares during the period. ORG Wealth Partners LLC purchased a new stake in Novo Nordisk A/S in the third quarter worth $313,000. Sapient Capital LLC boosted its holdings in Novo Nordisk A/S by 0.7% in the third quarter. Sapient Capital LLC now owns 640,279 shares of the company’s stock valued at $76,238,000 after acquiring an additional 4,429 shares in the last quarter. Finally, Adamsbrown Wealth Consultants LLC increased its position in Novo Nordisk A/S by 13.8% during the 3rd quarter. Adamsbrown Wealth Consultants LLC now owns 1,916 shares of the company’s stock valued at $228,000 after purchasing an additional 233 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.