Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.3% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price dropped 0.3% on Monday . The stock traded as low as $66.88 and last traded at $67.98. Approximately 2,149,641 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 5,551,132 shares. The stock had previously closed at $68.20.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVO. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 21st. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets dropped their price target on 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. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Novo Nordisk A/S has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Trading Up 1.3 %

The firm has a 50-day moving average of $82.33 and a two-hundred day moving average of $98.64. The firm has a market capitalization of $310.07 billion, a P/E ratio of 21.02, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.

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, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a $0.7874 dividend. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently bought and sold shares of the company. Center for Financial Planning Inc. boosted its stake in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its holdings in Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in Novo Nordisk A/S during the 3rd quarter worth approximately $28,000. Park Square Financial Group LLC acquired a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $29,000. Finally, Transce3nd LLC bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at $33,000. Institutional investors own 11.54% of the company’s stock.

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.