Novo Nordisk A/S (NYSE:NVO) Shares Down 1.8% – Here’s What Happened

Shares of Novo Nordisk A/S (NYSE:NVO) fell 1.8% during trading on Tuesday . The company traded as low as $117.31 and last traded at $117.62. 1,340,476 shares were traded during trading, a decline of 69% from the average session volume of 4,298,464 shares. The stock had previously closed at $119.78.

Analysts Set New Price Targets

Several brokerages have commented on NVO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Thursday, October 10th. 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. Finally, BMO Capital Markets reduced their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

The company has a market capitalization of $528.86 billion, a PE ratio of 40.56, a P/E/G ratio of 1.53 and a beta of 0.42. The stock has a 50 day moving average price of $129.26 and a two-hundred day moving average price of $131.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

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

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.83%.

Institutional Trading of Novo Nordisk A/S

Several large investors have recently modified their holdings of the company. Integrated Advisors Network LLC increased its position in Novo Nordisk A/S by 56.6% in the 4th quarter. Integrated Advisors Network LLC now owns 8,478 shares of the company’s stock worth $877,000 after buying an additional 3,063 shares during the period. Richardson Financial Services Inc. acquired a new stake in Novo Nordisk A/S in the 4th quarter worth $38,000. SageView Advisory Group LLC bought a new position in shares of Novo Nordisk A/S during the 4th quarter worth about $271,000. Leo Wealth LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $565,000. Finally, HighPoint Advisor Group LLC bought a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $1,876,000. 11.54% of the stock is owned by 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.