Novo Nordisk A/S (NYSE:NVO) Sets New 52-Week Low – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) shares hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $77.82 and last traded at $77.94, with a volume of 9865736 shares changing hands. The stock had previously closed at $78.83.

Analyst Ratings Changes

Several brokerages have issued reports on NVO. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. BMO Capital Markets dropped their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Morgan Stanley began coverage on Novo Nordisk A/S in a research note on Wednesday. They issued an “equal weight” rating on the stock. Finally, UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $89.31 and a two-hundred day moving average price of $110.18. The company has a market capitalization of $349.75 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (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%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC grew its stake in Novo Nordisk A/S by 2.7% in the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock valued at $366,125,000 after purchasing an additional 80,070 shares during the period. Norman Fields Gottscho Capital Management LLC grew its stake in Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after purchasing an additional 19,870 shares during the period. Versant Capital Management Inc bought a new position in Novo Nordisk A/S in the 4th quarter valued at $86,000. Talbot Financial LLC bought a new position in Novo Nordisk A/S in the 4th quarter valued at $4,066,000. Finally, Clear Creek Financial Management LLC bought a new position in Novo Nordisk A/S in the 4th quarter valued at $450,000. 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.