Novo Nordisk A/S (NYSE:NVO) Trading Down 1.1%

Novo Nordisk A/S (NYSE:NVO)’s share price dropped 1.1% on Thursday . The company traded as low as $122.55 and last traded at $123.11. Approximately 1,012,400 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 4,852,989 shares. The stock had previously closed at $124.53.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. UBS Group assumed coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. BMO Capital Markets initiated coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price on the stock. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S Trading Down 0.0 %

The company has a 50 day simple moving average of $126.39 and a 200 day simple moving average of $110.72. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $550.62 billion, a PE ratio of 45.36, a P/E/G ratio of 2.05 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Analysts predict that Novo Nordisk A/S will post 3.32 earnings per share 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 2nd. Stockholders of record on Monday, March 25th were paid a dividend of $0.664 per share. This represents a dividend yield of 0.9%. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. The ex-dividend date was Friday, March 22nd. Novo Nordisk A/S’s payout ratio is 49.17%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently modified their holdings of the business. Cornerstone Planning Group LLC acquired a new position in Novo Nordisk A/S during the second quarter worth $29,000. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the 1st quarter worth $25,000. Tower Research Capital LLC TRC increased its holdings in shares of Novo Nordisk A/S by 165.3% in the 1st quarter. Tower Research Capital LLC TRC now owns 199 shares of the company’s stock valued at $32,000 after purchasing an additional 124 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $26,000. Finally, CNB Bank purchased a new stake in Novo Nordisk A/S during the fourth quarter worth about $26,000. 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.