Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.3% – Here’s Why

Novo Nordisk A/S (NYSE:NVO) shares fell 2.3% on Thursday . The stock traded as low as $87.85 and last traded at $88.79. 2,198,647 shares were traded during mid-day trading, a decline of 75% from the average session volume of 8,768,615 shares. The stock had previously closed at $90.86.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVO shares. BMO Capital Markets decreased their price target on shares of 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. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report 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. Morgan Stanley started coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The stock has a 50-day moving average of $84.91 and a 200-day moving average of $105.29. The firm has a market cap of $391.25 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42.

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, beating 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%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date is Monday, March 31st. 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%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently modified their holdings of NVO. Center for Financial Planning Inc. increased its holdings 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 purchasing an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL raised its holdings in shares of Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after buying an additional 300 shares in the last quarter. Daiwa Securities Group Inc. bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth $28,000. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at about $29,000. Finally, Transce3nd LLC acquired a new position in Novo Nordisk A/S during the fourth quarter worth about $33,000. 11.54% of the stock is owned by 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.