Novo Nordisk A/S (NYSE:NVO) Shares Down 1.6% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) shares were down 1.6% during mid-day trading on Monday . The company traded as low as $85.04 and last traded at $85.05. Approximately 2,080,390 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 9,237,859 shares. The stock had previously closed at $86.42.

Analyst Upgrades and Downgrades

NVO has been the subject of several analyst reports. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Wednesday. They set an “equal weight” rating for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Down 2.3 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74. The firm’s 50-day simple moving average is $90.45 and its two-hundred day simple moving average is $110.60. The stock has a market cap of $366.99 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 0.96 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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%. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a $0.7874 dividend. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 21.88%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVO. Novare Capital Management LLC grew its stake in shares of Novo Nordisk A/S by 3.2% during the third quarter. Novare Capital Management LLC now owns 2,727 shares of the company’s stock worth $325,000 after purchasing an additional 85 shares during the period. Fiduciary Alliance LLC boosted its holdings in Novo Nordisk A/S by 7.6% during the third quarter. Fiduciary Alliance LLC now owns 7,278 shares of the company’s stock worth $867,000 after buying an additional 511 shares during the last quarter. Wesbanco Bank Inc. grew its position in shares of Novo Nordisk A/S by 35.3% during the 3rd quarter. Wesbanco Bank Inc. now owns 83,892 shares of the company’s stock worth $9,989,000 after buying an additional 21,904 shares during the period. Creative Planning increased its stake in shares of Novo Nordisk A/S by 4.7% in the 3rd quarter. Creative Planning now owns 294,799 shares of the company’s stock valued at $35,102,000 after acquiring an additional 13,203 shares during the last quarter. Finally, Iams Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 7.2% in the 3rd quarter. Iams Wealth Management LLC now owns 17,003 shares of the company’s stock valued at $2,025,000 after acquiring an additional 1,144 shares during the last quarter. 11.54% of the stock is currently 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.