Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.1% – Should You Sell?

Novo Nordisk A/S (NYSE:NVO)’s share price fell 2.1% on Thursday . The stock traded as low as $69.86 and last traded at $70.23. 2,558,450 shares changed hands during trading, a decline of 53% from the average session volume of 5,455,256 shares. The stock had previously closed at $71.73.

Analyst Upgrades and Downgrades

NVO has been the subject of several recent analyst reports. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

The stock has a fifty day moving average of $82.33 and a 200-day moving average of $99.11. The firm has a market capitalization of $311.23 billion, a P/E ratio of 21.08, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The firm 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%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

Institutional Trading of Novo Nordisk A/S

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in shares of Novo Nordisk A/S by 58.5% during the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock worth $5,410,000 after purchasing an additional 23,223 shares during the last quarter. Norman Fields Gottscho Capital Management LLC increased its holdings in Novo Nordisk A/S by 45.3% during the fourth quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after buying an additional 19,870 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after acquiring an additional 30,420 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $86,000. Finally, Talbot Financial LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth about $4,066,000. 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.