Novo Nordisk A/S (NYSE:NVO) Trading Down 0.7% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s share price fell 0.7% during mid-day trading on Friday . The company traded as low as $113.85 and last traded at $114.27. 2,185,460 shares were traded during trading, a decline of 49% from the average session volume of 4,317,266 shares. The stock had previously closed at $115.08.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, September 16th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Argus raised their price target on shares of 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. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a fifty day simple moving average of $130.83 and a 200-day simple moving average of $132.54. The company has a market capitalization of $514.76 billion, a price-to-earnings ratio of 39.40, a P/E/G ratio of 1.35 and a beta of 0.42.

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). The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors and hedge funds have recently made changes to their positions in NVO. Bank of New Hampshire increased its position in shares of Novo Nordisk A/S by 1,356.8% during the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock worth $1,702,000 after purchasing an additional 12,347 shares in the last quarter. Cim LLC acquired a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at about $23,547,000. Burford Brothers Inc. purchased a new position in shares of Novo Nordisk A/S in the fourth quarter worth about $1,045,000. Mark Asset Management LP acquired a new position in Novo Nordisk A/S during the fourth quarter worth about $1,035,000. Finally, Fox Hill Wealth Management grew its stake in Novo Nordisk A/S by 121.3% during the 1st quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock valued at $3,636,000 after acquiring an additional 15,525 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.