Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.6% – Time to Sell?

Novo Nordisk A/S (NYSE:NVO)’s stock price was down 1.6% during trading on Thursday . The company traded as low as $48.18 and last traded at $48.4610. Approximately 8,243,994 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 23,702,293 shares. The stock had previously closed at $49.23.

Analyst Ratings Changes

NVO has been the topic of several analyst reports. Jefferies Financial Group upgraded Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a research report on Thursday, February 12th. TD Cowen reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Tuesday, February 3rd. HSBC reissued a “hold” rating and issued a $54.00 target price on shares of Novo Nordisk A/S in a report on Wednesday, December 10th. Zacks Research cut Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Finally, Citigroup started coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 27th. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.07.

Novo Nordisk A/S Price Performance

The firm has a market cap of $216.38 billion, a PE ratio of 13.97 and a beta of 0.67. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.57 and a current ratio of 0.80. The stock has a 50 day simple moving average of $53.86 and a two-hundred day simple moving average of $53.24.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.90 by $0.11. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $11.97 billion. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Monday, March 30th will be given a dividend of $1.2751 per share. This represents a dividend yield of 541.0%. The ex-dividend date is Monday, March 30th. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 23.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in shares of Novo Nordisk A/S by 4,190.8% during the third quarter. Franklin Resources Inc. now owns 13,984,789 shares of the company’s stock worth $776,016,000 after purchasing an additional 13,658,867 shares in the last quarter. Capital International Investors lifted its holdings in shares of Novo Nordisk A/S by 52.4% in the 3rd quarter. Capital International Investors now owns 17,713,424 shares of the company’s stock worth $982,969,000 after purchasing an additional 6,092,192 shares during the last quarter. Boston Partners acquired a new stake in shares of Novo Nordisk A/S in the 3rd quarter worth about $310,199,000. Price T Rowe Associates Inc. MD boosted its position in shares of Novo Nordisk A/S by 99.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock worth $492,940,000 after buying an additional 4,836,285 shares during the period. Finally, Voloridge Investment Management LLC raised its stake in shares of Novo Nordisk A/S by 851.6% during the fourth quarter. Voloridge Investment Management LLC now owns 4,807,279 shares of the company’s stock valued at $244,594,000 after purchasing an additional 4,302,126 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

About Novo Nordisk A/S

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.