Novo Nordisk A/S (NYSE:NVO) Trading Down 0.7% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 0.7% during mid-day trading on Tuesday . The company traded as low as $74.57 and last traded at $74.80. Approximately 2,005,473 shares traded hands during 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 Analysts Forecast Growth

A number of equities analysts have recently weighed in on NVO shares. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Kepler Capital Markets raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday. Finally, Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating on the stock. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Down 2.6 %

The firm has a market capitalization of $329.41 billion, a price-to-earnings ratio of 22.31, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. 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 business’s 50 day moving average is $83.16 and its 200-day moving average is $100.35.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. increased its stake in Novo Nordisk A/S by 58.5% during the fourth quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $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% during 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 purchasing an additional 19,870 shares during the period. Bryn Mawr Capital Management LLC raised its stake in shares of Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after purchasing an additional 30,420 shares in the last quarter. Versant Capital Management Inc acquired a new stake in Novo Nordisk A/S during the fourth quarter worth $86,000. Finally, Talbot Financial LLC bought a new stake in Novo Nordisk A/S in the 4th quarter valued at $4,066,000. 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.