Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.2% – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s stock price fell 0.2% on Monday . The stock traded as low as $119.60 and last traded at $119.75. 687,094 shares changed hands during trading, a decline of 84% from the average session volume of 4,306,368 shares. The stock had previously closed at $120.04.

Wall Street Analyst Weigh In

Several research firms have weighed in on NVO. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, BMO Capital Markets reduced their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Trading Up 0.2 %

The company has a fifty day moving average price of $129.02 and a 200-day moving average price of $131.91. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $529.57 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $9.91 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.83%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S during the first quarter valued at approximately $26,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.