Novo Nordisk A/S (NYSE:NVO) Shares Down 1.8% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) was down 1.8% during trading on Tuesday . The company traded as low as $117.31 and last traded at $117.62. Approximately 1,340,476 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 4,298,464 shares. The stock had previously closed at $119.78.

Analyst Ratings Changes

Several equities research analysts have issued reports on NVO shares. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets dropped their price target on shares of 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Down 1.6 %

The company has a market cap of $528.86 billion, a P/E ratio of 40.56, a PEG ratio of 1.53 and a beta of 0.42. The business’s 50 day moving average price is $129.26 and its 200-day moving average price is $131.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. On average, analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is presently 24.83%.

Hedge Funds Weigh In On Novo Nordisk A/S

Large investors have recently modified their holdings of the stock. GQG Partners LLC boosted its position in Novo Nordisk A/S by 654.6% in the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after buying an additional 3,151,584 shares during the last quarter. DSM Capital Partners LLC lifted its stake in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the period. Acadian Asset Management LLC boosted its holdings in Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after purchasing an additional 823,036 shares during the period. Finally, Marshall Wace LLP increased its position in Novo Nordisk A/S by 34,472.1% in the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after purchasing an additional 689,441 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.