Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.1% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO) shares traded down 1.1% during mid-day trading on Tuesday . The stock traded as low as $114.76 and last traded at $116.06. 1,475,328 shares traded hands during trading, a decline of 65% from the average session volume of 4,274,455 shares. The stock had previously closed at $117.33.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets dropped their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently 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 debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $522.08 billion, a P/E ratio of 40.02, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The stock has a 50-day moving average of $128.23 and a 200 day moving average of $131.67.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. On average, research analysts anticipate that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently made changes to their positions in NVO. GQG Partners LLC raised its position in shares of Novo Nordisk A/S by 654.6% during the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after acquiring an additional 3,151,584 shares during the last quarter. DSM Capital Partners LLC raised its position in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after acquiring an additional 1,593,303 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Novo Nordisk A/S by 1,300.8% during the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Novo Nordisk A/S by 10.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after buying an additional 823,036 shares during the period. Finally, Marshall Wace LLP boosted its holdings in Novo Nordisk A/S by 34,472.1% during the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock worth $98,696,000 after buying an additional 689,441 shares during the last quarter. 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.