Novo Nordisk A/S (NYSE:NVO) Trading Down 1.9% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price was down 1.9% during mid-day trading on Thursday . The stock traded as low as $109.72 and last traded at $111.08. Approximately 2,963,599 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 4,337,774 shares. The stock had previously closed at $113.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. BMO Capital Markets reduced their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $144.50.

Novo Nordisk A/S Stock Down 1.3 %

The firm’s 50-day simple moving average is $125.25 and its 200 day simple moving average is $131.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The company has a market cap of $501.71 billion, a P/E ratio of 38.04, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, research analysts forecast 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. Stockholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is presently 24.66%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S in the 2nd quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the second quarter worth approximately $25,000. Orion Capital Management LLC bought a new position in shares of Novo Nordisk A/S in the first quarter worth $26,000. Gilliland Jeter Wealth Management LLC lifted its position in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. Finally, Halpern Financial Inc. grew its stake in Novo Nordisk A/S by 113.0% during the second quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares in the last quarter. 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.