Novo Nordisk A/S (NYSE:NVO) Shares Down 1.1% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s share price fell 1.1% during trading on Monday . The stock traded as low as $77.82 and last traded at $77.94. 9,865,736 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 9,598,048 shares. The stock had previously closed at $78.83.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent research reports. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. BMO Capital Markets cut their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Trading Up 1.3 %

The company has a fifty day moving average of $87.45 and a 200-day moving average of $108.84. 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 company has a market capitalization of $374.18 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 0.84 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts anticipate 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 announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is 21.88%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently bought and sold shares of NVO. Rosenberg Matthew Hamilton lifted its stake in Novo Nordisk A/S by 2.5% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,812 shares of the company’s stock worth $454,000 after purchasing an additional 94 shares in the last quarter. Spinnaker Trust increased its holdings in shares of Novo Nordisk A/S by 1.1% in the third quarter. Spinnaker Trust now owns 9,615 shares of the company’s stock valued at $1,145,000 after purchasing an additional 100 shares during the last quarter. Marco Investment Management LLC lifted its position in Novo Nordisk A/S by 1.5% during the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after buying an additional 100 shares in the last quarter. Carr Financial Group Corp boosted its stake in Novo Nordisk A/S by 5.1% during the third quarter. Carr Financial Group Corp now owns 2,100 shares of the company’s stock worth $250,000 after buying an additional 101 shares during the last quarter. Finally, Menard Financial Group LLC grew its holdings in Novo Nordisk A/S by 0.8% in the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after buying an additional 102 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.