Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.5% – Here’s Why

Novo Nordisk A/S (NYSE:NVO)’s stock price was down 1.5% during trading on Monday . The stock traded as low as $74.89 and last traded at $75.69. Approximately 3,263,445 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 5,413,693 shares. The stock had previously closed at $76.86.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NVO. Morgan Stanley began coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Friday. BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Finally, Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.25.

Novo Nordisk A/S Trading Down 2.1 %

The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $337.73 billion, a PE ratio of 22.87, a P/E/G ratio of 0.90 and a beta of 0.42. The business’s fifty day moving average is $83.34 and its 200-day moving average is $100.74.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. GQG Partners LLC grew its position in Novo Nordisk A/S by 74.7% during the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company’s stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Novo Nordisk A/S during the fourth quarter valued at about $404,910,000. Loomis Sayles & Co. L P raised its holdings in Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company’s stock valued at $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 73.2% in the 4th quarter. Nuveen Asset Management LLC now owns 6,244,931 shares of the company’s stock worth $537,189,000 after acquiring an additional 2,639,693 shares during the period. Finally, Two Sigma Investments LP acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $158,657,000. 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.