Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.8% – Time to Sell?

Shares of Novo Nordisk A/S (NYSE:NVO) fell 2.8% on Thursday . The stock traded as low as $79.29 and last traded at $79.52. 3,630,390 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 9,047,274 shares. The stock had previously closed at $81.79.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NVO shares. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. 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 Wednesday, November 6th. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research report on Wednesday. They issued an “equal weight” rating on the stock. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Down 3.6 %

The company has a market cap of $353.85 billion, a P/E ratio of 23.99, a P/E/G ratio of 0.96 and a beta of 0.45. The company’s 50-day moving average is $89.91 and its two-hundred day moving average is $110.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping 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 predict that Novo Nordisk A/S will post 3.86 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. Novo Nordisk A/S’s payout ratio is presently 21.88%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently modified their holdings of NVO. Creative Planning lifted its holdings in shares of Novo Nordisk A/S by 4.7% during the 3rd quarter. Creative Planning now owns 294,799 shares of the company’s stock valued at $35,102,000 after buying an additional 13,203 shares during the period. Acorn Creek Capital LLC raised its holdings in Novo Nordisk A/S by 7.4% in the 3rd quarter. Acorn Creek Capital LLC now owns 2,299 shares of the company’s stock worth $274,000 after purchasing an additional 159 shares during the period. Asset Dedication LLC raised its holdings in Novo Nordisk A/S by 23.0% in the 3rd quarter. Asset Dedication LLC now owns 2,354 shares of the company’s stock worth $280,000 after purchasing an additional 440 shares during the period. Opal Wealth Advisors LLC raised its holdings in Novo Nordisk A/S by 15.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 3,171 shares of the company’s stock worth $378,000 after purchasing an additional 418 shares during the period. Finally, Safeguard Financial LLC bought a new position in Novo Nordisk A/S in the 3rd quarter worth $330,000. 11.54% of the stock is owned by institutional investors.

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.