Novo Nordisk A/S (NYSE:NVO) Trading Down 0.7%

Novo Nordisk A/S (NYSE:NVO)’s stock price fell 0.7% during mid-day trading on Thursday . The company traded as low as $115.48 and last traded at $115.64. 996,467 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 4,311,022 shares. The stock had previously closed at $116.48.

Analysts Set New Price Targets

NVO has been the subject of a number of research reports. BMO Capital Markets lowered their price target 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. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Argus upped their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Stock Down 0.8 %

The firm has a 50 day simple moving average of $131.08 and a two-hundred day simple moving average of $132.66. The company has a market capitalization of $518.35 billion, a PE ratio of 39.88, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

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

Novo Nordisk A/S Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVO. M&R Capital Management Inc. raised its stake in Novo Nordisk A/S by 260.5% during the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock valued at $49,000 after buying an additional 297 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Novo Nordisk A/S by 98.5% during the 2nd quarter. Centaurus Financial Inc. now owns 7,175 shares of the company’s stock valued at $1,024,000 after purchasing an additional 3,560 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake 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 purchasing an additional 7,430 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Novo Nordisk A/S during the 2nd quarter valued at $728,000. Finally, Newbridge Financial Services Group Inc. boosted its stake in shares of Novo Nordisk A/S by 33.3% during 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. 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.