Novo Nordisk A/S (NYSE:NVO) Stock Price Down 4.5% - What's Next?

Key Points

• Novo Nordisk A/S shares fell by 4.5% during mid-day trading, with a trading low of $55.87 and a last traded price of $56.07, marking a significant volume increase of 51% from the average daily trading.
• Analysts have mixed views on the stock, with an average rating of "Hold" and a target price of $81.00; some firms have upgraded their ratings while others have downgraded, reflecting uncertainty in the stock's performance.
• The company reported $0.97 earnings per share for the latest quarter, surpassing expectations, but it also announced a semi-annual dividend with a payout ratio of 22.53%, indicating financial management adjustments.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares were down 4.5% during mid-day trading on Thursday . The stock traded as low as $55.87 and last traded at $56.07. Approximately 18,152,547 shares were traded during mid-day trading, an increase of 51% from the average daily volume of 11,990,727 shares. The stock had previously closed at $58.74.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVO shares. Barclays reiterated an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Sanford C. Bernstein upgraded Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. Zacks Research cut Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. HSBC cut Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price objective for the company. in a research note on Thursday, July 31st. Finally, Hsbc Global Res cut Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Stock Performance

The firm has a market cap of $250.35 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.66. 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 stock has a fifty day moving average price of $56.39 and a 200-day moving average price of $64.84.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%. On average, analysts expect 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 disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is currently 22.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. First Hawaiian Bank grew its holdings in shares of Novo Nordisk A/S by 0.6% during the first quarter. First Hawaiian Bank now owns 22,401 shares of the company's stock valued at $1,556,000 after buying an additional 142 shares in the last quarter. Anchor Investment Management LLC grew its holdings in shares of Novo Nordisk A/S by 1.1% during the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company's stock valued at $944,000 after buying an additional 150 shares in the last quarter. Xponance Inc. grew its holdings in shares of Novo Nordisk A/S by 5.0% during the first quarter. Xponance Inc. now owns 3,314 shares of the company's stock valued at $230,000 after buying an additional 158 shares in the last quarter. Foster Dykema Cabot & Partners LLC grew its holdings in shares of Novo Nordisk A/S by 3.8% during the first quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company's stock valued at $319,000 after buying 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 valued at $348,000 after buying an additional 173 shares in the last quarter. 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.

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