Novo Nordisk A/S (NYSE:NVO) Shares Down 3.1% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s stock price was down 3.1% on Tuesday . The stock traded as low as $86.92 and last traded at $86.60. Approximately 1,850,746 shares were traded during trading, a decline of 79% from the average daily volume of 8,868,124 shares. The stock had previously closed at $89.37.

Analyst Ratings Changes

Several brokerages have recently issued reports on NVO. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. BMO Capital Markets dropped their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Trading Down 2.2 %

The stock has a market capitalization of $392.17 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The business has a 50 day simple moving average of $84.84 and a 200-day simple moving average of $106.18.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share 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%. As a group, equities analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. 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%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BridgePort Financial Solutions LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $540,000. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Employees Retirement System of Texas raised its stake in shares of Novo Nordisk A/S by 9.9% during the 4th quarter. Employees Retirement System of Texas now owns 72,964 shares of the company’s stock worth $6,276,000 after purchasing an additional 6,560 shares in the last quarter. Brucke Financial Inc. acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at $542,000. Finally, Carolinas Wealth Consulting LLC grew its position in shares of Novo Nordisk A/S by 920.6% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,092 shares of the company’s stock valued at $94,000 after acquiring an additional 985 shares during the period. 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.