Novo Nordisk A/S (NYSE:NVO) Reaches New 1-Year Low - Here's Why

Novo Nordisk A/S (NYSE:NVO - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $66.88 and last traded at $69.58, with a volume of 6821438 shares changing hands. The stock had previously closed at $69.30.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. Sanford C. Bernstein raised Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an "equal weight" rating on the stock. Finally, StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 21st. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of "Moderate Buy" and a consensus price target of $145.25.

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Novo Nordisk A/S Price Performance

The stock has a 50-day moving average price of $81.89 and a two-hundred day moving average price of $97.68. The stock has a market cap of $306.05 billion, a price-to-earnings ratio of 20.73, a PEG 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates 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%. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date is Monday, March 31st. 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. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Novo Nordisk A/S by 16.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 204,583 shares of the company's stock valued at $24,360,000 after purchasing an additional 28,988 shares during the period. Verition Fund Management LLC increased its holdings in Novo Nordisk A/S by 3,310.3% in the 3rd quarter. Verition Fund Management LLC now owns 51,222 shares of the company's stock worth $6,099,000 after buying an additional 49,720 shares during the period. Benjamin Edwards Inc. increased its holdings in Novo Nordisk A/S by 643.8% in the 3rd quarter. Benjamin Edwards Inc. now owns 25,697 shares of the company's stock worth $3,060,000 after buying an additional 22,242 shares during the period. Ascent Group LLC lifted its stake in Novo Nordisk A/S by 1.3% during the 3rd quarter. Ascent Group LLC now owns 23,155 shares of the company's stock valued at $2,757,000 after acquiring an additional 286 shares during the period. Finally, Centiva Capital LP lifted its stake in Novo Nordisk A/S by 138.4% during the 3rd quarter. Centiva Capital LP now owns 20,898 shares of the company's stock valued at $2,488,000 after acquiring an additional 12,132 shares during the period. 11.54% of the stock is 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.