Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.7% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price was down 0.7% on Tuesday . The stock traded as low as $74.57 and last traded at $74.80. Approximately 2,005,473 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 5,430,226 shares. The stock had previously closed at $75.33.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday, March 21st. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Finally, BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Down 2.2 %

The firm has a market capitalization of $314.93 billion, a PE ratio of 21.33, a PEG ratio of 0.90 and a beta of 0.42. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $82.78 and a 200 day simple moving average of $99.75.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed 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 represents a yield of 1.2%. This is an increase 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 dividend payout ratio (DPR) is presently 47.72%.

Institutional Trading of Novo Nordisk A/S

Large investors have recently modified their holdings of the company. Fire Capital Management LLC bought a new position in Novo Nordisk A/S in the 4th quarter worth approximately $389,000. Wellington Management Group LLP grew its stake in shares of Novo Nordisk A/S by 135.3% in the 4th quarter. Wellington Management Group LLP now owns 830,435 shares of the company’s stock worth $71,434,000 after buying an additional 477,557 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in shares of Novo Nordisk A/S in the 4th quarter worth about $40,000. NorthCrest Asset Manangement LLC raised its position in shares of Novo Nordisk A/S by 4.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 11,663 shares of the company’s stock valued at $1,003,000 after buying an additional 495 shares in the last quarter. Finally, Lighthouse Financial LLC bought a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $1,811,000. 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.