Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.2% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price dropped 0.2% during mid-day trading on Friday . The company traded as low as $69.63 and last traded at $70.00. Approximately 1,821,407 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 5,468,364 shares. The stock had previously closed at $70.16.

Analysts Set New Price Targets

Several research analysts recently commented on NVO shares. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

The firm has a market cap of $311.61 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The stock has a 50 day simple moving average of $82.52 and a two-hundred day simple moving average of $99.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating 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%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. The ex-dividend date is Monday, March 31st. 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%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 47.72%.

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the business. Menard Financial Group LLC increased its position in Novo Nordisk A/S by 0.8% in the 3rd quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after acquiring an additional 102 shares during the period. Optimist Retirement Group LLC lifted its holdings in shares of Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock worth $327,000 after purchasing an additional 112 shares during the period. Financial Counselors Inc. grew its position in Novo Nordisk A/S by 1.1% in the 3rd quarter. Financial Counselors Inc. now owns 11,009 shares of the company’s stock valued at $1,311,000 after buying an additional 115 shares during the last quarter. M. Kulyk & Associates LLC increased its stake in Novo Nordisk A/S by 3.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock valued at $274,000 after buying an additional 119 shares during the period. Finally, Center for Financial Planning Inc. raised its position in Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.