Novo Nordisk A/S (NYSE:NVO) Trading 1.3% Higher - What's Next?

Key Points

• Novo Nordisk's stock price has increased by 1.3%, currently trading at $57.11 with a significantly lower volume compared to its average trading session.
• Recent analyst ratings show a downgrade trend, with multiple firms adjusting their ratings from "buy" to "hold" or lower, leading to a consensus rating of "Hold" with a price target of $81.00.
• The company reported $0.97 earnings per share for the last quarter, surpassing estimates, and has declared a semi-annual dividend resulting in a yield of 240.0%.

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price traded up 1.3% on Wednesday . The company traded as high as $57.35 and last traded at $57.11. 2,738,361 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 11,701,286 shares. The stock had previously closed at $56.38.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent research reports. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. HSBC downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 price target for the company. in a research note on Thursday, July 31st. Dbs Bank upgraded Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. UBS Group downgraded Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday, August 5th. Finally, Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 20th. Three equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Trading Up 0.4%

The stock has a 50 day moving average of $60.17 and a 200-day moving average of $68.04. The company has a market capitalization of $252.78 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.96 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.52.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed 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 of this dividend was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio is 22.53%.

Institutional Trading of Novo Nordisk A/S

Several hedge funds and other institutional investors have recently bought and sold shares of NVO. Kingstone Capital Partners Texas LLC raised its holdings in Novo Nordisk A/S by 301,443.6% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock valued at $690,560,000 after buying an additional 10,001,898 shares during the period. Nuveen LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter valued at $370,272,000. Nuveen Asset Management LLC raised its holdings in Novo Nordisk A/S by 73.2% during the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company's stock valued at $537,189,000 after buying an additional 2,639,693 shares during the period. Two Sigma Investments LP purchased a new stake in Novo Nordisk A/S during the 4th quarter valued at $158,657,000. Finally, Amundi grew its position in Novo Nordisk A/S by 49.1% in the 1st quarter. Amundi now owns 4,938,507 shares of the company's stock valued at $331,576,000 after acquiring an additional 1,627,051 shares during 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.

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.