Novo Nordisk A/S (NYSE:NVO) Shares Down 2.1% – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s share price fell 2.1% during mid-day trading on Friday . The stock traded as low as $47.03 and last traded at $47.43. 12,201,447 shares changed hands during trading, a decline of 48% from the average session volume of 23,365,105 shares. The stock had previously closed at $48.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on NVO shares. CICC Research assumed coverage on Novo Nordisk A/S in a research report on Friday, January 9th. They set an “outperform” rating and a $73.50 price objective on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a research note on Thursday, January 22nd. Jefferies Financial Group raised shares of Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research note on Thursday, February 12th. Morgan Stanley reissued an “underweight” rating and issued a $42.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, December 3rd. Finally, Citigroup started coverage on Novo Nordisk A/S in a research note on Tuesday, January 27th. They set a “neutral” rating on the stock. Seven research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.07.

Novo Nordisk A/S Price Performance

The company has a market capitalization of $211.77 billion, a P/E ratio of 13.67 and a beta of 0.67. The business’s 50-day moving average is $53.82 and its two-hundred day moving average is $53.21. The company has a quick ratio of 0.57, a current ratio of 0.80 and a debt-to-equity ratio of 0.61.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.90 by $0.11. Novo Nordisk A/S had a net margin of 33.03% and a return on equity of 68.91%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.97 billion. As a group, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Monday, March 30th will be given a dividend of $1.2751 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a dividend yield of 541.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 23.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quotient Wealth Partners LLC lifted its stake in Novo Nordisk A/S by 2.0% in the fourth quarter. Quotient Wealth Partners LLC now owns 9,091 shares of the company’s stock valued at $463,000 after purchasing an additional 177 shares during the last quarter. Certuity LLC raised its stake in shares of Novo Nordisk A/S by 3.6% in the fourth quarter. Certuity LLC now owns 5,052 shares of the company’s stock valued at $257,000 after buying an additional 177 shares during the period. Beacon Financial Group lifted its position in shares of Novo Nordisk A/S by 4.3% during the 3rd quarter. Beacon Financial Group now owns 4,307 shares of the company’s stock valued at $239,000 after buying an additional 178 shares during the last quarter. Oakworth Capital Inc. grew its stake in shares of Novo Nordisk A/S by 41.6% during the 4th quarter. Oakworth Capital Inc. now owns 619 shares of the company’s stock worth $31,000 after acquiring an additional 182 shares during the period. Finally, True North Advisors LLC increased its holdings in Novo Nordisk A/S by 3.9% in the 4th quarter. True North Advisors LLC now owns 5,305 shares of the company’s stock worth $270,000 after acquiring an additional 199 shares during the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.