Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) fell 2.7% during trading on Tuesday . The stock traded as low as $54.60 and last traded at $54.83. 6,345,776 shares were traded during mid-day trading, a decline of 46% from the average session volume of 11,743,585 shares. The stock had previously closed at $56.34.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on NVO. UBS Group downgraded shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a report on Tuesday, August 5th. Zacks Research downgraded shares of Novo Nordisk A/S from a "hold" rating to a "strong sell" rating in a report on Wednesday, August 20th. TD Cowen lowered their target price on shares of Novo Nordisk A/S from $105.00 to $70.00 and set a "buy" rating for the company in a report on Tuesday, August 19th. HSBC downgraded shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating and set a $57.00 target price for the company. 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Novo Nordisk A/S has an average rating of "Hold" and an average price target of $81.00.
Check Out Our Latest Report on Novo Nordisk A/S
Novo Nordisk A/S Price Performance
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 cap of $245.36 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.98 and a beta of 0.63. The business's 50-day simple moving average is $62.16 and its two-hundred day simple moving average is $69.00.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $11.69 billion during 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%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current year.
Novo Nordisk A/S Cuts Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 22.53%.
Hedge Funds Weigh In On Novo Nordisk A/S
A number of large investors have recently modified their holdings of the company. Saratoga Research & Investment Management boosted its position in shares of Novo Nordisk A/S by 4.0% in the second quarter. Saratoga Research & Investment Management now owns 1,512,677 shares of the company's stock valued at $104,405,000 after acquiring an additional 58,517 shares during the period. Coppell Advisory Solutions LLC bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $1,963,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $652,000. Marex Group plc bought a new position in shares of Novo Nordisk A/S in the second quarter valued at approximately $12,497,000. Finally, Advisory Services Network LLC boosted its position in shares of Novo Nordisk A/S by 65.0% in the second quarter. Advisory Services Network LLC now owns 88,208 shares of the company's stock valued at $6,088,000 after acquiring an additional 34,747 shares during the period. 11.54% of the stock is currently owned by institutional investors.
About Novo Nordisk A/S
(
Get Free Report)
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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