Novo Nordisk A/S (NYSE:NVO) Trading Down 0.4% – What’s Next?

Novo Nordisk A/S (NYSE:NVO)’s share price traded down 0.4% during mid-day trading on Wednesday . The company traded as low as $115.82 and last traded at $116.69. 1,190,317 shares were traded during mid-day trading, a decline of 72% from the average session volume of 4,319,403 shares. The stock had previously closed at $117.20.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVO. BMO Capital Markets decreased their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Finally, StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Trading Down 0.6 %

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 50-day moving average of $130.15 and a 200 day moving average of $132.27. The company has a market cap of $523.02 billion, a P/E ratio of 40.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42.

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 the consensus estimate of $0.71 by ($0.06). The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in NVO. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Novo Nordisk A/S in the first quarter worth about $26,000. Finally, Orion Capital Management LLC purchased a new position in shares of Novo Nordisk A/S in the first quarter worth about $26,000. 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.