Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.1% – What’s Next?

Novo Nordisk A/S (NYSE:NVO) shares were down 1.1% on Monday . The stock traded as low as $77.82 and last traded at $77.94. Approximately 9,865,736 shares changed hands during mid-day trading, an increase of 3% from the average daily volume of 9,598,048 shares. The stock had previously closed at $78.83.

Analyst Ratings Changes

A number of research firms have recently issued reports on NVO. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. 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. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Trading Down 1.1 %

The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75. The firm has a fifty day simple moving average of $88.65 and a two-hundred day simple moving average of $109.54. The firm has a market capitalization of $349.75 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.86 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 21.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Elefante Mark B purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $310,000. Ethic Inc. boosted its stake in Novo Nordisk A/S by 2.3% in the 4th quarter. Ethic Inc. now owns 171,622 shares of the company’s stock worth $14,763,000 after purchasing an additional 3,805 shares during the period. First Manhattan CO. LLC. grew its holdings in Novo Nordisk A/S by 3.4% during the 4th quarter. First Manhattan CO. LLC. now owns 7,466 shares of the company’s stock valued at $642,000 after buying an additional 243 shares in the last quarter. Fullcircle Wealth LLC increased its position in shares of Novo Nordisk A/S by 38.0% during the fourth quarter. Fullcircle Wealth LLC now owns 19,746 shares of the company’s stock valued at $1,557,000 after buying an additional 5,439 shares during the period. Finally, Dimension Capital Management LLC lifted its stake in Novo Nordisk A/S by 30.5% in the 4th quarter. Dimension Capital Management LLC now owns 3,213 shares of the company’s stock worth $276,000 after purchasing an additional 750 shares in the last quarter. 11.54% of the stock is currently 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.