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

Novo Nordisk A/S (NYSE:NVO)’s share price dropped 1% during mid-day trading on Wednesday . The company traded as low as $115.27 and last traded at $115.32. Approximately 941,767 shares traded 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.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NVO. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One equities research 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.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and an average target price of $144.50.

Novo Nordisk A/S Price Performance

The company has a market cap of $508.80 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.42. The company has a fifty day moving average price of $127.04 and a two-hundred day moving average price of $131.38. 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) last announced its quarterly 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 company 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%. As a group, equities research analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC raised its stake in shares of Novo Nordisk A/S by 38.9% during the first quarter. Wealthcare Advisory Partners LLC now owns 14,253 shares of the company’s stock worth $1,830,000 after buying an additional 3,990 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Novo Nordisk A/S by 91.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 205,698 shares of the company’s stock worth $26,412,000 after buying an additional 98,007 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in shares of Novo Nordisk A/S by 3.5% during the first quarter. 180 Wealth Advisors LLC now owns 6,549 shares of the company’s stock worth $841,000 after buying an additional 223 shares during the last quarter. Capital Asset Advisory Services LLC raised its stake in shares of Novo Nordisk A/S by 59.6% during the first quarter. Capital Asset Advisory Services LLC now owns 3,402 shares of the company’s stock worth $428,000 after buying an additional 1,271 shares during the last quarter. Finally, Kathmere Capital Management LLC increased its stake in Novo Nordisk A/S by 14.1% in the first quarter. Kathmere Capital Management LLC now owns 20,764 shares of the company’s stock valued at $2,666,000 after purchasing an additional 2,560 shares in the last quarter. 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.