Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.3% – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares dropped 0.3% during mid-day trading on Monday . The company traded as low as $66.88 and last traded at $67.98. Approximately 2,149,641 shares traded hands during trading, a decline of 61% from the average daily volume of 5,551,132 shares. The stock had previously closed at $68.20.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, 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. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Up 1.3 %

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 firm has a 50-day moving average of $82.33 and a 200 day moving average of $98.64. The stock has a market capitalization of $310.07 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued 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, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently added to or reduced their stakes in the business. Menard Financial Group LLC lifted its stake in shares of Novo Nordisk A/S by 0.8% during the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock worth $1,463,000 after buying an additional 102 shares during the last quarter. Optimist Retirement Group LLC increased its stake in shares of Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after purchasing an additional 112 shares during the period. M. Kulyk & Associates LLC lifted its holdings in Novo Nordisk A/S by 3.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock worth $274,000 after purchasing an additional 119 shares during the last quarter. Center for Financial Planning Inc. boosted its stake in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the period. Finally, Tradewinds Capital Management LLC grew its holdings in Novo Nordisk A/S by 2.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company’s stock valued at $429,000 after buying an additional 124 shares in the last quarter. 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.