Novo Nordisk A/S (NYSE:NVO) Shares Gap Down to $131.91

Novo Nordisk A/S (NYSE:NVO) gapped down before the market opened on Tuesday . The stock had previously closed at $131.91, but opened at $129.23. Novo Nordisk A/S shares last traded at $129.56, with a volume of 660,363 shares trading hands.

Wall Street Analyst Weigh In

NVO has been the topic of a number of analyst reports. BMO Capital Markets cut their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group began coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Trading Up 4.2 %

The stock has a market capitalization of $606.58 billion, a PE ratio of 46.61, a P/E/G ratio of 1.43 and a beta of 0.42. The company’s 50 day moving average price is $134.18 and its two-hundred day moving average price is $132.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. As a group, analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in NVO. First PREMIER Bank acquired a new position in Novo Nordisk A/S in the first quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S during the 1st quarter worth approximately $26,000. Finally, Orion Capital Management LLC acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. Institutional investors and hedge funds 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.