Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.2% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO)’s stock price dropped 0.2% on Friday . The company traded as low as $69.63 and last traded at $70.00. Approximately 1,821,407 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 5,468,364 shares. The stock had previously closed at $70.16.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVO. Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets reduced their target price 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. Finally, UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Stock Performance

The stock has a market cap of $311.23 billion, a PE ratio of 21.08, a P/E/G ratio of 0.90 and a beta of 0.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a 50-day simple moving average of $82.33 and a 200-day simple moving average of $98.89.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Equities analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. 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 (DPR) is currently 47.72%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $25,000 after buying an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL grew its position in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S during the third quarter valued at approximately $28,000. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S during the fourth quarter worth $29,000. Finally, Transce3nd LLC purchased a new position in shares of Novo Nordisk A/S in the fourth quarter valued at $33,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.