Novo Nordisk A/S (NYSE:NVO) Shares Down 0.5% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO) traded down 0.5% on Wednesday . The stock traded as low as $62.91 and last traded at $64.14. 2,287,913 shares were traded during mid-day trading, a decline of 61% from the average session volume of 5,821,227 shares. The stock had previously closed at $64.49.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NVO shares. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. BNP Paribas initiated coverage on Novo Nordisk A/S in a research report on Tuesday. They set an “underperform” rating for the company. BMO Capital Markets reissued a “market perform” rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday. Finally, Stifel Nicolaus cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $135.00.

Novo Nordisk A/S Price Performance

The stock has a market cap of $260.23 billion, a PE ratio of 17.63, a P/E/G ratio of 0.90 and a beta of 0.61. 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’s fifty day moving average price is $76.03 and its 200 day moving average price is $92.13.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, equities analysts expect 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 announced a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were issued a $0.7874 dividend. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend was Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s payout ratio is 49.54%.

Institutional Investors Weigh In On Novo Nordisk A/S

Several large investors have recently modified their holdings of NVO. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% during 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 during the period. Strategic Investment Solutions Inc. IL grew its position in shares of Novo Nordisk A/S by 2,727.3% in 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 during the last quarter. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at approximately $29,000. Transce3nd LLC purchased a new stake in Novo Nordisk A/S in the fourth quarter valued at about $33,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Novo Nordisk A/S during the fourth quarter worth about $39,000. 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.