Novo Nordisk A/S (NYSE:NVO) Trading Down 1.5%

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 1.5% on Tuesday . The company traded as low as $132.85 and last traded at $134.90. Approximately 767,347 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,238,365 shares. The stock had previously closed at $136.90.

Analyst Ratings Changes

Several research firms recently weighed in on NVO. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. Argus boosted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. BMO Capital Markets cut their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Performance

The stock has a market capitalization of $593.39 billion, a P/E ratio of 46.52, a P/E/G ratio of 1.48 and a beta of 0.42. The company’s fifty day simple moving average is $133.90 and its 200 day simple moving average is $133.14. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations 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 forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its holdings in Novo Nordisk A/S by 38.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after buying an additional 26,067 shares during the period. Bank of New Hampshire lifted its stake in shares of Novo Nordisk A/S by 1,356.8% in the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after purchasing an additional 12,347 shares during the period. Cim LLC bought a new stake in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $23,547,000. Burford Brothers Inc. bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at $1,045,000. Finally, Mark Asset Management LP bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $1,035,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

About Novo Nordisk A/S

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.