Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.4%

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price dropped 0.4% during trading on Wednesday . The stock traded as low as $121.79 and last traded at $123.45. Approximately 3,044,113 shares were traded during trading, a decline of 15% from the average daily volume of 3,581,832 shares. The stock had previously closed at $123.90.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a "neutral" rating on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, April 1st. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an "overweight" rating and a $120.00 target price on the stock. Finally, BMO Capital Markets assumed coverage on Novo Nordisk A/S in a report on Friday, April 12th. They issued an "outperform" rating and a $163.00 target price on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $133.60.

Novo Nordisk A/S Price Performance

The firm has a 50 day moving average price of $126.28 and a 200 day moving average price of $110.42. The company has a quick ratio of 0.64, a current ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock has a market cap of $558.92 billion, a P/E ratio of 46.13, a P/E/G ratio of 2.06 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The firm had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. On average, analysts forecast that Novo Nordisk A/S will post 3.33 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were given a dividend of $0.664 per share. The ex-dividend date was Friday, March 22nd. This represents a dividend yield of 0.9%. This is a boost from Novo Nordisk A/S's previous Semi-Annual dividend of $0.22. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 48.89%.

Institutional Trading of Novo Nordisk A/S

Several institutional investors have recently made changes to their positions in the business. Founders Financial Securities LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth about $217,000. Fox Hill Wealth Management grew its position in shares of Novo Nordisk A/S by 121.3% during the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company's stock worth $3,636,000 after purchasing an additional 15,525 shares in the last quarter. Brown Miller Wealth Management LLC purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth about $533,000. Symphony Financial Ltd. Co. purchased a new stake in shares of Novo Nordisk A/S during the first quarter worth about $242,000. Finally, Investment Research & Advisory Group Inc. grew its position in shares of Novo Nordisk A/S by 13.5% during the first quarter. Investment Research & Advisory Group Inc. now owns 940 shares of the company's stock worth $121,000 after purchasing an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

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.