Novo Nordisk A/S (NYSE:NVO) Shares Down 1.9% – What’s Next?

Novo Nordisk A/S (NYSE:NVOGet Free Report) traded down 1.9% on Thursday . The stock traded as low as $109.72 and last traded at $111.08. 2,963,599 shares changed hands during trading, a decline of 32% from the average session volume of 4,337,774 shares. The stock had previously closed at $113.24.

Analysts Set New Price Targets

NVO has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average price target of $144.50.

Check Out Our Latest Report on Novo Nordisk A/S

Novo Nordisk A/S Stock Performance

The stock has a market capitalization of $501.71 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 1.48 and a beta of 0.42. The company’s 50-day simple moving average is $125.25 and its 200-day simple moving average is $131.06. 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:NVOGet Free Report) last announced its earnings results 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, analysts expect that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced 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 was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is presently 24.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor OS LLC lifted its holdings in Novo Nordisk A/S by 0.6% in the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares during the period. Cascade Financial Partners LLC boosted its position in shares of Novo Nordisk A/S by 2.3% during the 2nd 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 in the last quarter. Novare Capital Management LLC grew its stake in Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares during the period. AA Financial Advisors LLC increased its holdings in Novo Nordisk A/S by 3.2% in the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock worth $400,000 after purchasing an additional 86 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its stake in Novo Nordisk A/S by 2.3% in the second 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 during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Novo Nordisk A/S

(Get Free Report)

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.

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