Novo Nordisk A/S (NYSE:NVO) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Novo Nordisk shares crossed above their 200-day moving average, reaching $48.04 before closing at $47.23, while trading volume totaled about 8.85 million shares.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating from MarketBeat, with 15 holds and four buys, despite an average price target of $64.94.
• The company reported quarterly revenue of $11.98 billion and EPS of $0.94, with a 35.36% net margin; institutional investors own approximately 11.54% of the stock.

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.89 and traded as high as $48.04. Novo Nordisk A/S shares last traded at $47.23, with a volume of 8,845,809 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, June 20th. Weiss Ratings upgraded Novo Nordisk A/S from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, August 5th. Citigroup reissued a "neutral" rating on shares of Novo Nordisk A/S in a report on Monday, July 20th. BMO Capital Markets reaffirmed a "market perform" rating and set a $47.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, August 6th. Finally, Nordea Equity Research upgraded shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Friday, June 19th. Four equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. Based on data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Hold" and an average price target of $64.94.

Novo Nordisk A/S Trading Down 2.9%

The firm's fifty day simple moving average is $47.92 and its 200-day simple moving average is $43.89. The stock has a market cap of $210.88 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 4.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share (EPS) for the quarter. Novo Nordisk A/S had a return on equity of 61.20% and a net margin of 35.36%.The firm had revenue of $11.98 billion for the quarter. Equities research analysts expect that Novo Nordisk A/S will post 3.41 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, August 25th. Investors of record on Monday, August 17th were given a $0.5786 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a yield of 258.0%. Novo Nordisk A/S's dividend payout ratio (DPR) is presently 20.05%.

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 grew its holdings in 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 buying an additional 200 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Novo Nordisk A/S by 21.0% during the first quarter. AQR Capital Management LLC now owns 62,099 shares of the company's stock valued at $4,312,000 after purchasing an additional 10,758 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Novo Nordisk A/S by 18.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,320 shares of the company's stock worth $712,000 after buying an additional 1,587 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Novo Nordisk A/S by 26.3% in the 2nd quarter. Invesco Ltd. now owns 419,691 shares of the company's stock worth $28,967,000 after buying an additional 87,467 shares during the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in shares of Novo Nordisk A/S during the second quarter valued at approximately $314,000. 11.54% of the stock is owned by institutional investors.

Novo Nordisk A/S Company Profile

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.

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