Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.2% - Time to Sell?

Novo Nordisk A/S (NYSE:NVO - Get Free Report) was down 1.2% during trading on Wednesday . The company traded as low as $72.16 and last traded at $72.69. Approximately 2,526,132 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 5,437,857 shares. The stock had previously closed at $73.60.

Analysts Set New Price Targets

Several equities analysts have weighed in on NVO shares. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Thursday, March 13th. BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an "equal weight" rating for the company. BMO Capital Markets decreased their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating on the stock in a research report on Monday, December 23rd. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Three investment 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. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of "Moderate Buy" and an average price target of $145.25.

Novo Nordisk A/S Trading Down 1.1 %

The company's 50 day simple moving average is $82.33 and its 200-day simple moving average is $99.11. The firm has a market cap of $311.23 billion, a P/E ratio of 21.08, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Remove Ads

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 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%. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a $0.7874 dividend. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S's dividend payout ratio is currently 47.72%.

Institutional Trading of Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of the stock. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth $28,000. Center for Financial Planning Inc. increased its stake in shares of Novo Nordisk A/S by 72.4% during 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 during the period. Strategic Investment Solutions Inc. IL raised its holdings in shares of Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Novo Nordisk A/S in the fourth quarter worth about $29,000. Finally, Transce3nd LLC bought a new position in Novo Nordisk A/S during the 4th quarter worth about $33,000. Institutional investors own 11.54% of the company's stock.

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.