Novo Nordisk A/S (NYSE:NVO) Trading Down 0.1% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price fell 0.1% on Thursday . The stock traded as low as $82.71 and last traded at $83.29. 1,303,826 shares changed hands during trading, a decline of 85% from the average session volume of 8,967,742 shares. The stock had previously closed at $83.40.

Analysts Set New Price Targets

A number of analysts have commented on NVO shares. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BMO Capital Markets decreased their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Finally, Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Up 5.2 %

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 stock has a market cap of $395.19 billion, a P/E ratio of 26.77, a PEG ratio of 0.90 and a beta of 0.45. The firm has a 50-day simple moving average of $86.01 and a two-hundred day simple moving average of $108.22.

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

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. This is an increase 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%.

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently modified their holdings of the stock. American Trust lifted its position in Novo Nordisk A/S by 6.8% during the fourth quarter. American Trust now owns 13,589 shares of the company’s stock worth $1,169,000 after purchasing an additional 864 shares during the period. Forum Financial Management LP raised its position in shares of Novo Nordisk A/S by 0.9% in the 4th quarter. Forum Financial Management LP now owns 23,897 shares of the company’s stock valued at $2,056,000 after buying an additional 219 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $285,000. Formidable Asset Management LLC boosted its position in shares of Novo Nordisk A/S by 116.9% during the 4th quarter. Formidable Asset Management LLC now owns 14,576 shares of the company’s stock worth $1,254,000 after acquiring an additional 7,857 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC bought a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $608,000. 11.54% of the stock is currently owned by 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.