Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.5% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s share price was down 1.5% during mid-day trading on Monday . The company traded as low as $74.89 and last traded at $75.69. Approximately 3,263,445 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 5,413,693 shares. The stock had previously closed at $76.86.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NVO. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 21st. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. Finally, BMO Capital Markets reduced their price objective on shares of 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. Three investment 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 company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm has a market cap of $330.15 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.90 and a beta of 0.42. The business has a fifty day simple moving average of $83.01 and a 200-day simple moving average of $99.94.

Novo Nordisk A/S (NYSE:NVO) last issued 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 net margin of 34.81% and a return on equity of 84.68%. On average, sell-side analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s payout ratio is currently 47.72%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Menard Financial Group LLC increased its holdings in shares of Novo Nordisk A/S by 0.8% during the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock valued at $1,463,000 after acquiring an additional 102 shares in the last quarter. Optimist Retirement Group LLC grew its position in Novo Nordisk A/S by 4.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock valued at $327,000 after purchasing an additional 112 shares during the last quarter. Financial Counselors Inc. increased its stake in Novo Nordisk A/S by 1.1% during the 3rd quarter. Financial Counselors Inc. now owns 11,009 shares of the company’s stock valued at $1,311,000 after purchasing an additional 115 shares in the last quarter. M. Kulyk & Associates LLC raised its holdings in Novo Nordisk A/S by 3.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock worth $274,000 after buying an additional 119 shares during the last quarter. Finally, Center for Financial Planning Inc. lifted 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 worth $25,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors 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.