Novo Nordisk A/S (NYSE:NVO) Trading Down 2.3%

Novo Nordisk A/S (NYSE:NVO) shares fell 2.3% during mid-day trading on Thursday . The company traded as low as $130.86 and last traded at $131.38. 1,097,204 shares were traded during trading, a decline of 75% from the average session volume of 4,321,349 shares. The stock had previously closed at $134.53.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVO. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, August 19th. BMO Capital Markets cut their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock has a market cap of $588.49 billion, a price-to-earnings ratio of 45.25, a P/E/G ratio of 1.52 and a beta of 0.42. The stock has a fifty day moving average of $134.79 and a 200 day moving average of $132.47.

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

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. 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 (DPR) is presently 24.83%.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisor OS LLC grew its holdings in Novo Nordisk A/S by 0.6% in the 2nd 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 in the last quarter. Cascade Financial Partners LLC grew its holdings in Novo Nordisk A/S by 2.3% in the 2nd quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after buying an additional 84 shares in the last quarter. Cravens & Co Advisors LLC grew its holdings in Novo Nordisk A/S by 1.0% in the 1st 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 lifted its stake in shares of Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its stake in shares of Novo Nordisk A/S by 2.3% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock valued at $541,000 after purchasing an additional 86 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.