Novo Nordisk A/S (NYSE:NVO) Shares Down 0.2% - Here's What Happened

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price traded down 0.2% during mid-day trading on Thursday . The stock traded as low as $66.86 and last traded at $66.34. 5,957,800 shares were traded during mid-day trading, a decline of 3% from the average session volume of 6,154,287 shares. The stock had previously closed at $66.45.

Analysts Set New Price Targets

NVO has been the subject of several recent research reports. Guggenheim downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 17th. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They issued an "underperform" rating on the stock. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. Hsbc Global Res upgraded shares of Novo Nordisk A/S to a "strong-buy" rating in a report on Monday, April 28th. Finally, Dbs Bank downgraded Novo Nordisk A/S to a "sell" rating in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $135.00.

Novo Nordisk A/S Stock Performance

The company's 50 day simple moving average is $70.60 and its 200 day simple moving average is $87.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The stock has a market cap of $297.63 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 0.90 and a beta of 0.65.

Novo Nordisk A/S Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st were paid a $0.7874 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend was Monday, March 31st. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's dividend payout ratio is 49.54%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. M. Kulyk & Associates LLC increased its holdings in shares of Novo Nordisk A/S by 3.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company's stock valued at $274,000 after purchasing an additional 119 shares in the last quarter. Center for Financial Planning Inc. raised its holdings in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after acquiring an additional 123 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in Novo Nordisk A/S by 2.6% in the 4th quarter. Tradewinds Capital Management LLC now owns 4,984 shares of the company's stock worth $429,000 after purchasing an additional 124 shares in the last quarter. Exencial Wealth Advisors LLC boosted its holdings in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Exencial Wealth Advisors LLC now owns 23,094 shares of the company's stock worth $1,987,000 after purchasing an additional 124 shares during the last quarter. Finally, Indie Asset Partners LLC grew its position in shares of Novo Nordisk A/S by 4.2% in the fourth quarter. Indie Asset Partners LLC now owns 3,128 shares of the company's stock valued at $269,000 after purchasing an additional 126 shares in the last quarter. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.