Novo Nordisk A/S (NYSE:NVO) Hits New 52-Week Low – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $73.20 and last traded at $73.57, with a volume of 8872312 shares. The stock had previously closed at $75.33.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Down 2.3 %

The firm’s fifty day simple moving average is $83.01 and its 200 day simple moving average is $99.94. The company has a market cap of $330.15 billion, a price-to-earnings ratio of 22.36, 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.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results 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 net margin of 34.81% and a return on equity of 84.68%. Sell-side analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its holdings in shares of Novo Nordisk A/S by 58.5% in the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $5,410,000 after purchasing an additional 23,223 shares during the last quarter. Norman Fields Gottscho Capital Management LLC lifted its stake in Novo Nordisk A/S by 45.3% in 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 buying an additional 19,870 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings 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 acquiring an additional 30,420 shares during the period. Versant Capital Management Inc purchased a new position in shares of Novo Nordisk A/S during the fourth quarter worth approximately $86,000. Finally, Talbot Financial LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter valued at $4,066,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.