Novo Nordisk A/S (NYSE:NVO) Shares Down 5.8% - Time to Sell?

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price fell 5.8% during mid-day trading on Thursday . The stock traded as low as $61.25 and last traded at $61.30. 2,540,404 shares were traded during mid-day trading, a decline of 56% from the average session volume of 5,729,697 shares. The stock had previously closed at $65.09.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 7th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. BMO Capital Markets lowered 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 report on Monday, December 23rd. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

The stock has a fifty day moving average price of $77.87 and a 200-day moving average price of $93.34. The firm has a market capitalization of $296.18 billion, a PE ratio of 20.06, a P/E/G ratio of 0.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released 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%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st were given a dividend of $0.7874 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a 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 payout ratio is currently 49.54%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently bought and sold shares of NVO. Center for Financial Planning Inc. increased its holdings in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after buying an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in shares of 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 period. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $29,000. Transce3nd LLC acquired a new position in Novo Nordisk A/S in the fourth quarter valued at approximately $33,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in Novo Nordisk A/S in the fourth quarter worth approximately $39,000. Institutional investors and hedge funds 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.