Novo Nordisk A/S (NYSE:NVO) Trading Down 1.9% - What's Next?

Key Points

• Shares of Novo Nordisk A/S fell 1.9% to $59.54 on Tuesday, with trading volumes down by 4% compared to the average daily volume.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and an average target price of $81.00.
• The company recently reported earnings of $0.97 per share, exceeding expectations, while its dividend payout ratio stands at 22.53%.

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) were down 1.9% during trading on Tuesday . The stock traded as low as $59.08 and last traded at $59.54. Approximately 11,451,056 shares were traded during trading, a decline of 4% from the average daily volume of 11,960,606 shares. The stock had previously closed at $60.71.

Analysts Set New Price Targets

Several analysts recently commented on NVO shares. Berenberg Bank upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a report on Wednesday, September 17th. Rothschild Redb upgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 16th. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 31st. BNP Paribas upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research report on Wednesday, August 13th. Finally, Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a "neutral" rating to a "buy" rating in a research report on Tuesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $81.00.

Novo Nordisk A/S Stock Down 1.9%

The business's 50 day moving average is $56.71 and its 200-day moving average is $64.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The firm has a market capitalization of $265.84 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.33 and a beta of 0.66.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted 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 net margin of 35.60% and a return on equity of 78.64%. Equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS 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 given a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date was Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 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 grew its position in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after purchasing an additional 10,001,898 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at about $370,272,000. Amundi increased its stake in Novo Nordisk A/S by 49.1% in the first 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 period. Bank of Montreal Can raised its position in Novo Nordisk A/S by 101.4% in the second quarter. Bank of Montreal Can now owns 2,475,300 shares of the company's stock worth $170,845,000 after purchasing an additional 1,246,467 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Novo Nordisk A/S by 15,919.9% during the first quarter. Acadian Asset Management LLC now owns 1,044,658 shares of the company's stock worth $72,523,000 after purchasing an additional 1,038,137 shares during the period. 11.54% of the stock is currently owned by institutional investors and hedge funds.

About Novo Nordisk A/S

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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