Novo Nordisk A/S (NYSE:NVO) Trading Down 1.2% – Here’s What Happened

Shares of Novo Nordisk A/S (NYSE:NVO) traded down 1.2% during trading on Tuesday . The stock traded as low as $77.52 and last traded at $78.03. 2,310,780 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 5,340,098 shares. The stock had previously closed at $78.95.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Morgan Stanley began 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. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Trading Down 1.0 %

The stock has a market capitalization of $350.63 billion, a P/E ratio of 23.75, a P/E/G ratio of 0.90 and a beta of 0.42. The stock’s 50 day moving average price is $84.77 and its 200-day moving average price is $104.45. 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 results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in Novo Nordisk A/S in the third quarter valued at about $42,000. Mesirow Financial Investment Management Inc. boosted its stake in Novo Nordisk A/S by 7.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 11,610 shares of the company’s stock worth $1,382,000 after purchasing an additional 763 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in Novo Nordisk A/S by 31.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 52,596 shares of the company’s stock worth $6,263,000 after purchasing an additional 12,539 shares during the last quarter. Ashton Thomas Securities LLC increased its stake in Novo Nordisk A/S by 20.8% during the 3rd quarter. Ashton Thomas Securities LLC now owns 11,024 shares of the company’s stock valued at $1,313,000 after purchasing an additional 1,899 shares in the last quarter. Finally, Kennebec Savings Bank purchased a new position in shares of Novo Nordisk A/S in the third quarter worth $106,000. 11.54% of the stock is owned by institutional investors and hedge funds.

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.