Novo Nordisk A/S (NYSE:NVO) Trading Down 1.1%

Shares of Novo Nordisk A/S (NYSE:NVO) fell 1.1% on Wednesday . The company traded as low as $133.63 and last traded at $134.75. 616,348 shares changed hands during trading, a decline of 86% from the average session volume of 4,333,674 shares. The stock had previously closed at $136.26.

Wall Street Analysts Forecast Growth

NVO has been the subject of several analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, August 19th. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

The firm has a 50 day moving average of $135.03 and a 200-day moving average of $132.42. The company has a market cap of $587.28 billion, a P/E ratio of 45.13, a PEG ratio of 1.52 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently modified their holdings of the business. Aveo Capital Partners LLC purchased a new stake in Novo Nordisk A/S during the fourth quarter worth $205,000. 9258 Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 4.0% in the 4th quarter. 9258 Wealth Management LLC now owns 2,513 shares of the company’s stock worth $260,000 after acquiring an additional 97 shares in the last quarter. Rollins Financial boosted its position in Novo Nordisk A/S by 10.4% during the fourth quarter. Rollins Financial now owns 3,894 shares of the company’s stock valued at $403,000 after purchasing an additional 368 shares in the last quarter. Spire Wealth Management boosted its position in Novo Nordisk A/S by 52.5% during the fourth quarter. Spire Wealth Management now owns 9,316 shares of the company’s stock valued at $996,000 after purchasing an additional 3,209 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Novo Nordisk A/S by 49.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,870 shares of the company’s stock worth $504,000 after purchasing an additional 1,608 shares in the last quarter. 11.54% of the stock is currently owned by 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.