Novo Nordisk A/S (NYSE:NVO) Shares Down 1.4% - Time to Sell?

Key Points

• Novo Nordisk A/S shares fell 1.4% to $56.67, with a significant trading volume decline of 37% from the average, indicating possible market weakness.
• Analysts have mixed views on the stock, with price targets ranging from $55 to $105, while the consensus rating is a "Moderate Buy."
• The company reported a strong quarterly earnings of $0.97 EPS, exceeding analysts' expectations, but recently declared a semi-annual dividend of $0.4119, suggesting an ongoing commitment to shareholder returns.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares dropped 1.4% on Tuesday . The company traded as low as $55.80 and last traded at $56.67. Approximately 7,600,201 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 12,124,280 shares. The stock had previously closed at $57.50.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BMO Capital Markets restated a "market perform" rating and issued a $55.00 price objective (up previously from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday. Zacks Research raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Monday, September 29th. TD Cowen cut their price target on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. Hsbc Global Res raised shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 1st. Finally, Rothschild & Co Redburn raised shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.00.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $253.03 billion, a PE ratio of 15.57, a P/E/G ratio of 2.58 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm has a fifty day moving average price of $55.61 and a 200 day moving average price of $63.03.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $11.69 billion during the quarter, compared to analyst estimates of $77.51 billion. Research 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 company also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were given a $0.4119 dividend. This represents a dividend yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is 22.53%.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of NVO. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the 1st quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after acquiring an additional 255 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $27,000. Stone House Investment Management LLC purchased a new stake in shares of Novo Nordisk A/S in the first quarter worth approximately $30,000. NewSquare Capital LLC lifted its position in shares of Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company's stock worth $31,000 after purchasing an additional 282 shares in the last quarter. Finally, Disciplina Capital Management LLC lifted its position 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. Hedge funds and other institutional investors own 11.54% of the company's stock.

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.

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