Novo Nordisk A/S (NYSE:NVO) Trading Down 1.7% - Here's What Happened

Key Points

• Novo Nordisk A/S shares experienced a decline of 1.7%, trading between $54.73 and $55.16 with a significant drop in volume, reaching only 5,032,438 shares compared to its average of 11,680,570 shares.
• Analysts have varied perspectives, with Zacks Research downgrading the stock to a "strong sell" and others setting price targets, leading to a consensus rating of "Hold" and a target price of $81.00.
• The company's recent quarterly earnings showed an EPS of $0.97, exceeding estimates, while it declared a semi-annual dividend yielding 240.0% with a payout ratio of 22.53%.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares fell 1.7% during mid-day trading on Friday . The company traded as low as $54.73 and last traded at $55.16. 5,032,438 shares were traded during mid-day trading, a decline of 57% from the average session volume of 11,680,570 shares. The stock had previously closed at $56.14.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVO. Zacks Research downgraded Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. BNP Paribas Exane raised Novo Nordisk A/S from an "underperform" rating to a "neutral" rating and set a $54.00 price target for the company in a report on Wednesday, August 13th. Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Dbs Bank raised Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a report on Friday, August 22nd. Finally, Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $81.00.

Novo Nordisk A/S Trading Down 1.8%

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 company has a fifty day moving average of $59.72 and a two-hundred day moving average of $67.81. The stock has a market capitalization of $246.23 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 1.97 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued 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 firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, research analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds have recently modified their holdings of NVO. Copeland Capital Management LLC lifted its holdings in shares of Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock worth $27,000 after purchasing an additional 255 shares during the period. North Capital Inc. acquired a new stake in Novo Nordisk A/S in the first quarter valued at $27,000. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at $29,000. Stone House Investment Management LLC acquired a new stake in Novo Nordisk A/S in the first quarter valued at $30,000. Finally, NewSquare Capital LLC lifted its holdings in Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company's stock valued at $31,000 after acquiring an additional 282 shares during the period. 11.54% of the stock is owned by institutional investors and hedge funds.

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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