Novo Nordisk A/S (NYSE:NVO) Stock Price Down 7.8% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 7.8% during mid-day trading on Friday . The stock traded as low as $57.28 and last traded at $57.99. Approximately 32,192,935 shares traded hands during mid-day trading, an increase of 440% from the average daily volume of 5,963,203 shares. The stock had previously closed at $62.88.

Analysts Set New Price Targets

A number of research firms recently commented on NVO. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research note on Tuesday. They set an “underperform” rating on the stock. 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. Finally, UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $135.00.

Novo Nordisk A/S Trading Down 7.8 %

The firm has a market capitalization of $260.23 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The business’s fifty day moving average is $75.52 and its 200 day moving average is $91.54. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) 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%. Equities analysts predict 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 declared a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were 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 was Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 49.54%.

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently made changes to their positions in the business. Passumpsic Savings Bank increased its stake in Novo Nordisk A/S by 0.9% in the 3rd quarter. Passumpsic Savings Bank now owns 21,448 shares of the company’s stock valued at $2,554,000 after buying an additional 194 shares during the last quarter. Virtu Financial LLC increased its position in shares of Novo Nordisk A/S by 69.8% in the third quarter. Virtu Financial LLC now owns 33,929 shares of the company’s stock valued at $4,040,000 after acquiring an additional 13,949 shares during the last quarter. Tudor Financial Inc. bought a new stake in Novo Nordisk A/S during the third quarter worth about $311,000. Anchor Investment Management LLC boosted its position in Novo Nordisk A/S by 2.3% during the third quarter. Anchor Investment Management LLC now owns 13,447 shares of the company’s stock valued at $1,601,000 after purchasing an additional 297 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in Novo Nordisk A/S by 36.9% in the third quarter. World Investment Advisors LLC now owns 13,925 shares of the company’s stock valued at $1,655,000 after purchasing an additional 3,750 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.