Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.5% – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 1.5% during mid-day trading on Monday . The company traded as low as $74.89 and last traded at $75.69. Approximately 3,263,445 shares were traded during trading, a decline of 40% from the average daily volume of 5,413,693 shares. The stock had previously closed at $76.86.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. 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, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Trading Down 2.3 %

The stock has a fifty day moving average of $83.01 and a 200 day moving average of $99.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a market capitalization of $330.15 billion, a P/E ratio of 22.36, a PEG ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of the business. Menard Financial Group LLC increased its stake in Novo Nordisk A/S by 0.8% during the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock worth $1,463,000 after acquiring an additional 102 shares during the last quarter. Optimist Retirement Group LLC increased its position in shares of Novo Nordisk A/S by 4.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock valued at $327,000 after purchasing an additional 112 shares during the last quarter. Financial Counselors Inc. raised its holdings in Novo Nordisk A/S by 1.1% during the 3rd quarter. Financial Counselors Inc. now owns 11,009 shares of the company’s stock valued at $1,311,000 after buying an additional 115 shares during the period. M. Kulyk & Associates LLC lifted its position in Novo Nordisk A/S by 3.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock worth $274,000 after buying an additional 119 shares during the last quarter. Finally, Center for Financial Planning Inc. boosted its stake in Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares during the period. 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.