Novo Nordisk A/S (NYSE:NVO) Trading Down 0.7%

Share price of Novo Nordisk A/S (NYSE:NVO – Get Free Report ) was down 0.7% during mid-day trading on Thursday. The company traded as high as $115.48 and last traded at $115.64. 996,467 shares traded hands during mid-day trading, down 77% from the session’s average volume of 4,311,022 shares. Shares previously closed at $116.48.

Analysts set new price targets

NVO has been the subject of a number of research reports. BMO Capital Markets cut their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Argus boosted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $145.17, according to MarketBeat.com.

Get the latest research report on NVO

Novo Nordisk A/S stock falls 0.8%

The firm has a 50 day simple moving average of $131.08 and a two hundred day simple moving average of $132.66. The company has a market cap of $518.35 billion, a PE ratio of 39.88, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75, and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO – Get Your Free Report ) last issued its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. research analysts expect that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S cuts dividends

The company also recently announced a semiannual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16. Novo Nordisk A/S’s payout ratio is 24.83%.

Institutional inputs and outputs

A number of institutional investors and hedge funds have recently bought and sold shares of NVO. M&R Capital Management Inc. raised its stake in Novo Nordisk A/S by 260.5% during the third quarter. M&R Capital Management Inc. now owns 411 shares of the company’s stock valued at $49,000 after purchasing an additional 297 shares in the last quarter. Centaurus Financial Inc. boosted its stake in Novo Nordisk A/S by 98.5% during the 2nd quarter. Centaurus Financial Inc. now owns 7,175 shares of the company’s stock valued at $1,024,000 after purchasing an additional 3,560 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Novo Nordisk A/S by 45.8% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 23,664 shares of the company’s stock valued at $3,378,000 after purchasing an additional 7,430 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Novo Nordisk A/S in the second quarter valued at $728,000. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Novo Nordisk A/S by 33.3% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 16,948 shares of the company’s stock worth $2,419,000 after purchasing an additional 4,233 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s shares.

About Novo Nordisk A/S

(Get a free report)

Novo Nordisk A/S, together with its subsidiaries, is engaged in the research and development, manufacturing 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 diseases.

Further reading

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