Novo Nordisk A/S (NYSE:NVO) Stock Price Down 2.1% – Time to Sell?

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on NVO shares. CICC Research initiated coverage on shares of Novo Nordisk A/S in a research note on Friday, January 9th. They issued an “outperform” rating and a $73.50 price objective on the stock. TD Cowen reaffirmed a “buy” rating on shares of Novo Nordisk A/S in a report on Tuesday, February 3rd. Weiss Ratings upgraded shares of Novo Nordisk A/S from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, February 5th. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. Finally, Jefferies Financial Group raised shares of Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research report on Thursday, February 12th. Seven investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Novo Nordisk A/S has an average rating of “Hold” and an average target price of $56.07.

Novo Nordisk A/S Trading Down 2.1%

The stock has a market capitalization of $211.77 billion, a PE ratio of 13.67 and a beta of 0.67. The stock’s 50 day moving average price is $53.77 and its 200-day moving average price is $53.24. 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 released its earnings results on Tuesday, February 3rd. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $11.97 billion. On average, sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Monday, March 30th will be paid a $1.2751 dividend. 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 is 23.63%.

Institutional Trading of Novo Nordisk A/S

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Revolve Wealth Partners LLC raised its position in shares of Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock valued at $214,000 after buying an additional 200 shares during the last quarter. AQR Capital Management LLC grew its stake in Novo Nordisk A/S by 21.0% during the first quarter. AQR Capital Management LLC now owns 62,099 shares of the company’s stock valued at $4,312,000 after acquiring an additional 10,758 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Novo Nordisk A/S by 18.2% during the second quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company’s stock valued at $712,000 after acquiring an additional 1,587 shares in the last quarter. Brookstone Capital Management increased its holdings in Novo Nordisk A/S by 55.3% in the 2nd quarter. Brookstone Capital Management now owns 22,037 shares of the company’s stock valued at $1,521,000 after acquiring an additional 7,848 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its holdings in Novo Nordisk A/S by 9.5% in the 2nd quarter. 180 Wealth Advisors LLC now owns 5,492 shares of the company’s stock valued at $379,000 after acquiring an additional 478 shares during the last quarter. Institutional investors own 11.54% of the company’s stock.

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.