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

Novo Nordisk A/S (NYSE:NVO)’s share price dropped 1.2% during trading on Wednesday . The company traded as low as $72.16 and last traded at $72.69. Approximately 2,526,132 shares were traded during trading, a decline of 54% from the average daily volume of 5,437,857 shares. The stock had previously closed at $73.60.

Analyst Ratings Changes

NVO has been the topic of a number of recent research reports. Kepler Capital Markets upgraded shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Performance

The stock has a market cap of $323.05 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The stock has a fifty day moving average of $83.01 and a 200-day moving average of $99.94. 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 earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. 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. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s payout ratio is 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently added to or reduced their stakes in NVO. Victory Capital Management Inc. grew its holdings in shares of Novo Nordisk A/S by 58.5% in the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after acquiring an additional 23,223 shares during the period. Norman Fields Gottscho Capital Management LLC increased its position in shares of Novo Nordisk A/S by 45.3% in the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after buying an additional 19,870 shares in the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 358.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock worth $3,346,000 after buying an additional 30,420 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of Novo Nordisk A/S in the 4th quarter worth about $86,000. Finally, Talbot Financial LLC acquired a new stake in Novo Nordisk A/S in the 4th quarter valued at about $4,066,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.