Novo Nordisk A/S (NYSE:NVO) Shares Gap Down to $136.90

Novo Nordisk A/S (NYSE:NVO)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $136.90, but opened at $133.60. Novo Nordisk A/S shares last traded at $133.58, with a volume of 417,313 shares.

Analyst Upgrades and Downgrades

NVO has been the topic of a number of analyst reports. BMO Capital Markets cut 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 research report on Thursday, August 8th. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. Finally, 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 note on Monday, June 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Trading Down 2.9 %

The firm has a market cap of $596.35 billion, a PE ratio of 46.52, a P/E/G ratio of 1.48 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. The company has a 50 day simple moving average of $133.90 and a two-hundred day simple moving average of $133.14.

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

Novo Nordisk A/S Cuts Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of the stock. Advisor OS LLC raised its position in shares of Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after acquiring an additional 82 shares during the period. Cascade Financial Partners LLC grew its holdings in Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares during the period. Cravens & Co Advisors LLC increased its position in shares of Novo Nordisk A/S by 1.0% in the first quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock valued at $1,059,000 after buying an additional 85 shares in the last quarter. AA Financial Advisors LLC raised its stake in shares of Novo Nordisk A/S by 3.2% during the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after buying an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC lifted its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds 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.