Novo Nordisk A/S (NYSE:NVO) Shares Down 1.3% - Should You Sell?

Key Points

• Novo Nordisk A/S's shares experienced a decline of 1.3%, trading at $58.78, with a total volume of approximately 11 million shares, slightly below the average.
• Recent analyst ratings have shown mixed reviews, with one upgrade to "buy" and several downgrades, indicating a consensus "hold" rating with a target price of $81.00.
• The company posted a better-than-expected quarterly earnings report, with $0.97 EPS, exceeding the consensus estimate of $0.93, on revenues of $11.69 billion.

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) were down 1.3% during mid-day trading on Wednesday . The company traded as low as $58.14 and last traded at $58.78. Approximately 11,071,312 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 11,955,992 shares. The stock had previously closed at $59.54.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NVO shares. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. BNP Paribas raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. UBS Group lowered shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Zacks Research lowered shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Stock Down 1.3%

The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The company's fifty day simple moving average is $56.56 and its 200 day simple moving average is $64.88. The firm has a market capitalization of $262.47 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 2.30 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, topping 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 business had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 22.53%.

Hedge Funds Weigh In On Novo Nordisk A/S

Large investors have recently made changes to their positions in the business. First Hawaiian Bank increased its holdings in Novo Nordisk A/S by 0.6% during the 1st quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after acquiring an additional 142 shares in the last quarter. Anchor Investment Management LLC increased its holdings in Novo Nordisk A/S by 1.1% during the 1st quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock valued at $944,000 after acquiring an additional 150 shares in the last quarter. Xponance Inc. increased its holdings in Novo Nordisk A/S by 5.0% during the 1st quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after acquiring an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in Novo Nordisk A/S by 3.8% during the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock valued at $319,000 after acquiring an additional 166 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its holdings in shares of Novo Nordisk A/S by 3.6% during the first quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company's stock worth $348,000 after buying an additional 173 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.