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

Novo Nordisk A/S (NYSE:NVO) was down 1.1% during trading on Tuesday . The company traded as low as $137.47 and last traded at $137.58. Approximately 591,810 shares traded hands during trading, a decline of 86% from the average daily volume of 4,346,238 shares. The stock had previously closed at $139.16.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NVO shares. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price objective on the stock. Argus raised their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday, August 19th. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm’s 50 day simple moving average is $135.30 and its 200-day simple moving average is $132.43. The company has a market cap of $587.28 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Novo Nordisk A/S by 38.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock worth $9,781,000 after acquiring an additional 26,067 shares during the period. McKinley Carter Wealth Services Inc. raised its holdings in shares of Novo Nordisk A/S by 37.0% during the 4th quarter. McKinley Carter Wealth Services Inc. now owns 60,356 shares of the company’s stock worth $6,244,000 after acquiring an additional 16,293 shares during the period. Bank of New Hampshire raised its holdings in Novo Nordisk A/S by 1,356.8% in the 1st quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after buying an additional 12,347 shares during the period. Cim LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter valued at about $23,547,000. Finally, Burford Brothers Inc. purchased a new stake in Novo Nordisk A/S in the 4th quarter valued at about $1,045,000. Hedge funds and other 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.