Novo Nordisk A/S (NYSE:NVO) Trading Down 0.4% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) dropped 0.4% during mid-day trading on Wednesday . The stock traded as low as $115.82 and last traded at $116.69. Approximately 1,190,317 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 4,319,403 shares. The stock had previously closed at $117.20.

Analyst Ratings Changes

Several analysts have weighed in on NVO shares. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Finally, BMO Capital Markets cut their price objective on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

The firm’s fifty day simple moving average is $130.15 and its 200 day simple moving average is $132.27. The firm has a market cap of $523.02 billion, a P/E ratio of 40.24, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share 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. Stockholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the business. Waterloo Capital L.P. purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at $217,000. MGO One Seven LLC grew its stake in shares of Novo Nordisk A/S by 3.5% in the 4th quarter. MGO One Seven LLC now owns 17,630 shares of the company’s stock valued at $1,824,000 after buying an additional 600 shares during the period. Ethic Inc. grew its stake in shares of Novo Nordisk A/S by 4.8% in the 4th quarter. Ethic Inc. now owns 166,373 shares of the company’s stock valued at $17,211,000 after buying an additional 7,556 shares during the period. Garner Asset Management Corp purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $163,000. Finally, ADAR1 Capital Management LLC purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at approximately $657,000. 11.54% of the stock is 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.