Novo Nordisk A/S (NYSE:NVO) Shares Down 1.6% - Here's Why

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price fell 1.6% on Monday . The stock traded as low as $85.04 and last traded at $85.05. 2,080,390 shares were traded during mid-day trading, a decline of 77% from the average session volume of 9,237,859 shares. The stock had previously closed at $86.42.

Analysts Set New Price Targets

NVO has been the subject of several analyst reports. StockNews.com lowered Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Sunday, December 29th. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday. They set an "equal weight" rating on the stock. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research note on Monday, January 6th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, UBS Group raised shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of "Moderate Buy" and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

The stock has a market cap of $353.52 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 0.96 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.75. The stock's 50 day simple moving average is $89.91 and its two-hundred day simple moving average is $110.40.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.86 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S's dividend payout ratio is currently 21.88%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning lifted its stake in Novo Nordisk A/S by 4.7% in the third quarter. Creative Planning now owns 294,799 shares of the company's stock valued at $35,102,000 after acquiring an additional 13,203 shares during the last quarter. Acorn Creek Capital LLC raised its position in shares of Novo Nordisk A/S by 7.4% in the third quarter. Acorn Creek Capital LLC now owns 2,299 shares of the company's stock valued at $274,000 after purchasing an additional 159 shares during the period. Asset Dedication LLC grew its stake in Novo Nordisk A/S by 23.0% in the 3rd quarter. Asset Dedication LLC now owns 2,354 shares of the company's stock valued at $280,000 after buying an additional 440 shares during the last quarter. Opal Wealth Advisors LLC grew its position in shares of Novo Nordisk A/S by 15.2% in the third quarter. Opal Wealth Advisors LLC now owns 3,171 shares of the company's stock valued at $378,000 after purchasing an additional 418 shares during the last quarter. Finally, Safeguard Financial LLC bought a new position in shares of Novo Nordisk A/S during the third quarter worth approximately $330,000. Institutional investors and hedge funds 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.