Novo Nordisk A/S (NYSE:NVO) Trading Down 0.7% – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 0.7% during mid-day trading on Tuesday . The stock traded as low as $74.57 and last traded at $74.80. Approximately 2,005,473 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 5,430,226 shares. The stock had previously closed at $75.33.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVO. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Finally, 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. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

The stock has a fifty day moving average of $83.16 and a 200-day moving average of $100.35. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $329.41 billion, a P/E ratio of 22.31, a PEG ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its 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 net margin of 34.81% and a return on equity of 84.68%. Equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Fire Capital Management LLC bought a new stake in Novo Nordisk A/S during the 4th quarter worth about $389,000. Wellington Management Group LLP grew its position in shares of Novo Nordisk A/S by 135.3% during the 4th quarter. Wellington Management Group LLP now owns 830,435 shares of the company’s stock worth $71,434,000 after buying an additional 477,557 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Novo Nordisk A/S during the fourth quarter worth approximately $40,000. NorthCrest Asset Manangement LLC lifted its holdings in Novo Nordisk A/S by 4.4% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 11,663 shares of the company’s stock valued at $1,003,000 after buying an additional 495 shares during the period. Finally, Lighthouse Financial LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $1,811,000. 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.