Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.8% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO) dropped 2.8% on Thursday . The stock traded as low as $79.29 and last traded at $79.52. Approximately 3,630,390 shares traded hands during trading, a decline of 60% from the average daily volume of 9,047,274 shares. The stock had previously closed at $81.79.

Wall Street Analysts Forecast Growth

NVO has been the topic of a number of research reports. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. BMO Capital Markets lowered their price objective on 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. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday. They set an “equal weight” rating for the company. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.75 and a current ratio of 0.74. The company has a market cap of $353.85 billion, a PE ratio of 23.99, a PEG ratio of 0.96 and a beta of 0.45. The business’s 50-day moving average is $89.91 and its 200 day moving average is $110.40.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping 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%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.86 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is 21.88%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of NVO. Center for Financial Planning Inc. grew its stake in shares of Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares during the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth approximately $28,000. Capital Performance Advisors LLP purchased a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $42,000. Albion Financial Group UT raised its holdings in shares of Novo Nordisk A/S by 121.4% during the fourth quarter. Albion Financial Group UT now owns 507 shares of the company’s stock valued at $44,000 after acquiring an additional 278 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its stake in Novo Nordisk A/S by 82.1% in the fourth quarter. Sound Income Strategies LLC now owns 539 shares of the company’s stock worth $46,000 after acquiring an additional 243 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.