Novo Nordisk A/S (NYSE:NVO) Trading Down 0% – Here’s What Happened

Shares of Novo Nordisk A/S (NYSE:NVO) dropped 0% during trading on Tuesday . The stock traded as low as $69.00 and last traded at $69.41. Approximately 1,612,654 shares changed hands during trading, a decline of 81% from the average daily volume of 8,313,432 shares. The stock had previously closed at $69.44.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating for the company. Finally, BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Price Performance

The company has a 50 day moving average of $82.15 and a two-hundred day moving average of $98.17. The firm has a market cap of $303.67 billion, a P/E ratio of 20.57, a PEG ratio of 0.90 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVO. Daiwa Securities Group Inc. purchased a new position in Novo Nordisk A/S during the 3rd quarter valued at about $28,000. Center for Financial Planning Inc. grew its holdings in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S during the fourth quarter valued at $29,000. Finally, Transce3nd LLC purchased a new position in Novo Nordisk A/S in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.