Novo Nordisk A/S (NYSE:NVO) Trading Down 1% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO) shares were down 1% during trading on Wednesday . The stock traded as low as $115.27 and last traded at $115.32. Approximately 941,767 shares changed hands during trading, a decline of 78% from the average daily volume of 4,273,068 shares. The stock had previously closed at $116.47.

Analysts Set New Price Targets

NVO has been the subject of a number of research analyst reports. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. Finally, BMO Capital Markets cut their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Down 0.7 %

The firm’s fifty day moving average is $127.89 and its 200 day moving average is $131.61. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $518.85 billion, a P/E ratio of 39.49, a P/E/G ratio of 1.54 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. As a group, equities research analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.66%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of NVO. Harbour Trust & Investment Management Co raised its position in Novo Nordisk A/S by 4.7% in the 3rd quarter. Harbour Trust & Investment Management Co now owns 99,797 shares of the company’s stock worth $11,883,000 after purchasing an additional 4,444 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of Novo Nordisk A/S by 6.6% during the third quarter. Tectonic Advisors LLC now owns 5,512 shares of the company’s stock worth $656,000 after acquiring an additional 340 shares during the last quarter. Mason & Associates Inc acquired a new position in shares of Novo Nordisk A/S during the third quarter valued at $245,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Novo Nordisk A/S by 105.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 18,041 shares of the company’s stock valued at $2,148,000 after acquiring an additional 9,272 shares during the last quarter. Finally, JCIC Asset Management Inc. increased its position in Novo Nordisk A/S by 0.6% in the third quarter. JCIC Asset Management Inc. now owns 36,542 shares of the company’s stock worth $4,351,000 after purchasing an additional 213 shares during the period. Institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Company Profile

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.