Novo Nordisk A/S (NYSE:NVO) Trading Down 1.6% - Here's Why

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) were down 1.6% on Friday . The stock traded as low as $60.57 and last traded at $61.62. Approximately 2,598,154 shares traded hands during trading, a decline of 57% from the average daily volume of 6,069,894 shares. The stock had previously closed at $62.63.

Wall Street Analysts Forecast Growth

NVO has been the subject of several research reports. UBS Group raised shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Dbs Bank lowered Novo Nordisk A/S to a "sell" rating in a report on Friday. StockNews.com raised Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Friday. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $64.00 price objective (down from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $135.00.

Novo Nordisk A/S Stock Performance

The company has a market cap of $278.54 billion, a P/E ratio of 18.87, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The company's 50-day moving average price is $73.62 and its two-hundred day moving average price is $89.42. 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 posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st were issued a dividend of $0.7874 per share. This represents a yield of 1.2%. The ex-dividend date was Monday, March 31st. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's payout ratio is presently 49.54%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NVO. Mather Group LLC. grew its stake in Novo Nordisk A/S by 6.2% during the 1st quarter. Mather Group LLC. now owns 5,933 shares of the company's stock valued at $412,000 after acquiring an additional 345 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in Novo Nordisk A/S by 27.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 15,570 shares of the company's stock worth $1,081,000 after purchasing an additional 3,316 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in shares of Novo Nordisk A/S by 50.2% in the first quarter. Washington Trust Advisors Inc. now owns 778 shares of the company's stock worth $54,000 after buying an additional 260 shares during the last quarter. Mmbg Investment Advisors CO. grew its stake in Novo Nordisk A/S by 69.7% in the 1st quarter. Mmbg Investment Advisors CO. now owns 29,985 shares of the company's stock valued at $2,116,000 after buying an additional 12,320 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC raised its holdings in Novo Nordisk A/S by 12.3% in the 1st quarter. Avidian Wealth Enterprises LLC now owns 11,000 shares of the company's stock worth $764,000 after acquiring an additional 1,206 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.