Novo Nordisk A/S (NYSE:NVO) Trading Down 2.1% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO) traded down 2.1% during trading on Friday . The stock traded as low as $47.03 and last traded at $47.43. 12,201,447 shares changed hands during trading, a decline of 48% from the average session volume of 23,365,105 shares. The stock had previously closed at $48.45.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. HSBC restated a “hold” rating and set a $54.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, December 10th. Jefferies Financial Group upgraded Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research report on Thursday, February 12th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Novo Nordisk A/S in a report on Thursday, February 5th. Zacks Research lowered Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Finally, Citigroup began coverage on Novo Nordisk A/S in a research note on Tuesday, January 27th. They issued a “neutral” rating for the company. Seven investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.07.

Novo Nordisk A/S Stock Down 2.1%

The company has a market cap of $211.77 billion, a PE ratio of 13.67 and a beta of 0.67. The stock has a 50-day moving average of $53.82 and a 200-day moving average of $53.21. The company has a quick ratio of 0.57, a current ratio of 0.80 and a debt-to-equity ratio of 0.61.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%.The business had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $11.97 billion. Sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Monday, March 30th will be paid a $1.2751 dividend. This represents a yield of 541.0%. The ex-dividend date of this dividend is Monday, March 30th. Novo Nordisk A/S’s payout ratio is currently 23.63%.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds have recently made changes to their positions in NVO. True Wealth Design LLC lifted its stake in Novo Nordisk A/S by 209.8% during the third quarter. True Wealth Design LLC now owns 443 shares of the company’s stock worth $25,000 after purchasing an additional 300 shares during the last quarter. Guerra Advisors Inc bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter valued at about $25,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $25,000. WealthCollab LLC boosted its position in Novo Nordisk A/S by 93.5% during the 4th quarter. WealthCollab LLC now owns 538 shares of the company’s stock valued at $27,000 after buying an additional 260 shares during the period. Finally, American National Bank & Trust bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $28,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.