Novo Nordisk A/S (NYSE:NVO) Shares Down 1.7% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) fell 1.7% on Tuesday . The company traded as low as $47.76 and last traded at $48.2710. 28,293,470 shares changed hands during trading, an increase of 133% from the average session volume of 12,166,924 shares. The stock had previously closed at $49.11.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVO shares. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Jefferies Financial Group started coverage on shares of Novo Nordisk A/S in a research report on Monday, October 27th. They set an “underperform” rating on the stock. Hsbc Global Res raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Novo Nordisk A/S in a research report on Tuesday, October 14th. Finally, Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

The company has a market cap of $215.53 billion, a PE ratio of 13.26, a P/E/G ratio of 2.33 and a beta of 0.68. The company’s fifty day moving average price is $56.03 and its 200 day moving average price is $61.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently bought and sold shares of the company. Stone House Investment Management LLC purchased a new position in shares of Novo Nordisk A/S during the 1st quarter valued at $30,000. True Wealth Design LLC raised its stake in Novo Nordisk A/S by 209.8% in the 3rd quarter. True Wealth Design LLC now owns 443 shares of the company’s stock valued at $25,000 after acquiring an additional 300 shares during the period. NewSquare Capital LLC lifted its holdings in Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after purchasing an additional 282 shares during the last quarter. Guerra Advisors Inc bought a new position in Novo Nordisk A/S during the third quarter worth about $25,000. Finally, Disciplina Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 162.3% in the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after purchasing an additional 297 shares in the last quarter. 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.