Novo Nordisk A/S (NYSE:NVO) Hits New 1-Year Low – What’s Next?

Novo Nordisk A/S (NYSE:NVO) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $57.28 and last traded at $58.03, with a volume of 8520665 shares trading hands. The stock had previously closed at $62.88.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BNP Paribas started coverage on Novo Nordisk A/S in a report on Tuesday. They issued an “underperform” rating on the stock. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets restated a “market perform” rating and set a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $135.00.

Novo Nordisk A/S Stock Down 7.2 %

The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a market cap of $261.99 billion, a PE ratio of 17.69, a PEG ratio of 0.90 and a beta of 0.61. The company’s fifty day moving average is $76.55 and its 200-day moving average is $92.55.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 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%. On average, analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st were issued a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date was Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is currently 49.54%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of the business. Center for Financial Planning Inc. grew its holdings 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 valued at $25,000 after purchasing an additional 123 shares during the period. Strategic Investment Solutions Inc. IL increased its holdings in Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Transce3nd LLC purchased a new position in Novo Nordisk A/S during the fourth quarter valued at approximately $33,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Novo Nordisk A/S in the fourth quarter worth approximately $39,000. 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.