Novo Nordisk A/S (NYSE:NVO) Trading Down 1.3% - Here's Why

Key Points

• Stock Performance: Novo Nordisk A/S's stock price decreased by 1.3% during trading, closing at $55.98 with a significant drop in trading volume, which was 70% lower than the average.
• Analyst Ratings: The company received mixed analyst ratings, with three Buy ratings, twelve Holds, and one Sell, while its consensus target price is $81.00.
• Financial Highlights: Novo Nordisk reported quarterly earnings of $0.97 per share, surpassing estimates, and had a net margin of 35.6% with a significant revenue of $11.69 billion.

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price traded down 1.3% during trading on Thursday . The company traded as low as $55.46 and last traded at $55.98. 3,484,845 shares were traded during trading, a decline of 70% from the average session volume of 11,690,725 shares. The stock had previously closed at $56.74.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NVO. BNP Paribas Exane upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 target price on the stock in a report on Wednesday, August 13th. Hsbc Global Res lowered shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Dbs Bank upgraded shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. HSBC lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price on the stock. in a report on Thursday, July 31st. Finally, Barclays restated an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of "Hold" and a consensus target price of $81.00.

Novo Nordisk A/S Trading Down 1.0%

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 market capitalization of $250.71 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.96 and a beta of 0.66. The firm's 50 day simple moving average is $59.96 and its two-hundred day simple moving average is $67.96.

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, beating the consensus estimate 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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. As a group, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date of this dividend was Monday, August 18th. Novo Nordisk A/S's payout ratio is 22.53%.

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently made changes to their positions in NVO. Revolve Wealth Partners LLC increased its position in shares of Novo Nordisk A/S by 8.7% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company's stock worth $214,000 after acquiring an additional 200 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Novo Nordisk A/S by 0.7% during the fourth quarter. AQR Capital Management LLC now owns 51,341 shares of the company's stock worth $4,416,000 after acquiring an additional 353 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Novo Nordisk A/S by 86.6% during the fourth quarter. Aptus Capital Advisors LLC now owns 7,041 shares of the company's stock worth $606,000 after acquiring an additional 3,267 shares in the last quarter. Ancora Advisors LLC increased its position in shares of Novo Nordisk A/S by 12.8% during the fourth quarter. Ancora Advisors LLC now owns 2,812 shares of the company's stock worth $242,000 after acquiring an additional 319 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Novo Nordisk A/S by 9.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,318,716 shares of the company's stock worth $113,301,000 after acquiring an additional 114,228 shares in the last quarter. 11.54% of the stock is owned by 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.

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