Novo Nordisk A/S (NYSE:NVO) Trading Down 1.8% – Here’s Why

Shares of Novo Nordisk A/S (NYSE:NVO) fell 1.8% during mid-day trading on Tuesday . The company traded as low as $117.31 and last traded at $117.62. 1,340,476 shares traded hands during trading, a decline of 69% from the average session volume of 4,298,464 shares. The stock had previously closed at $119.78.

Analyst Ratings Changes

NVO has been the topic of a number of recent analyst reports. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets cut their price target on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $530.52 billion, a price-to-earnings ratio of 40.77, a PEG ratio of 1.53 and a beta of 0.42. The stock has a fifty day moving average price of $128.99 and a 200-day moving average price of $131.81.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data 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). The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently modified their holdings of NVO. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $25,000. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S during the 2nd quarter worth $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. Finally, Orion Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the 1st quarter valued at $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.