Novo Nordisk A/S (NYSE:NVO) Shares Gap Down – Here’s Why

Shares of Novo Nordisk A/S (NYSE:NVO) gapped down prior to trading on Friday . The stock had previously closed at $78.79, but opened at $75.96. Novo Nordisk A/S shares last traded at $76.11, with a volume of 1,273,266 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NVO. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets cut their price objective 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. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Down 2.4 %

The stock has a market cap of $344.97 billion, a PE ratio of 23.40, a P/E/G ratio of 0.90 and a beta of 0.42. The business has a 50 day moving average price of $83.53 and a 200 day moving average price of $101.66. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

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%. Equities research analysts expect that Novo Nordisk A/S will post 3.84 EPS 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. 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 47.72%.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after purchasing an additional 23,223 shares in the last quarter. Norman Fields Gottscho Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after acquiring an additional 19,870 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after acquiring an additional 30,420 shares in the last quarter. Versant Capital Management Inc purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $86,000. Finally, Talbot Financial LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $4,066,000. Hedge funds and other 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.