Novo Nordisk A/S (NYSE:NVO) Shares Down 2.5%

Shares of Novo Nordisk A/S (NYSE:NVO) dropped 2.5% on Monday . The stock traded as low as $117.49 and last traded at $117.76. Approximately 2,053,127 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 4,296,133 shares. The stock had previously closed at $120.76.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BMO Capital Markets lowered their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Argus boosted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Down 2.0 %

The firm has a market capitalization of $531.23 billion, a P/E ratio of 40.61, a PEG ratio of 1.35 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $131.97 and a 200 day simple moving average of $132.98.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s payout ratio is presently 24.83%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the company. Centaurus Financial Inc. lifted its position in shares of Novo Nordisk A/S by 98.5% in the 2nd quarter. Centaurus Financial Inc. now owns 7,175 shares of the company’s stock worth $1,024,000 after purchasing an additional 3,560 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Novo Nordisk A/S by 45.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 23,664 shares of the company’s stock valued at $3,378,000 after acquiring an additional 7,430 shares in the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at $728,000. Newbridge Financial Services Group Inc. raised its position in shares of Novo Nordisk A/S by 33.3% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 16,948 shares of the company’s stock worth $2,419,000 after acquiring an additional 4,233 shares in the last quarter. Finally, Prio Wealth Limited Partnership lifted its stake in shares of Novo Nordisk A/S by 3.2% during the 2nd quarter. Prio Wealth Limited Partnership now owns 201,898 shares of the company’s stock worth $28,819,000 after purchasing an additional 6,181 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.