Novo Nordisk A/S (NYSE:NVO) Trading Down 0.4% on Analyst Downgrade

Novo Nordisk A/S (NYSE:NVO)’s share price was down 0.4% during trading on Friday after BMO Capital Markets lowered their price target on the stock from $160.00 to $156.00. BMO Capital Markets currently has an outperform rating on the stock. Novo Nordisk A/S traded as low as $117.14 and last traded at $117.74. Approximately 732,776 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 4,281,186 shares. The stock had previously closed at $118.22.

A number of other research analysts have also recently commented on the company. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus target price of $144.50.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors have recently added to or reduced their stakes in NVO. GQG Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. DSM Capital Partners LLC grew its position in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after buying an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Novo Nordisk A/S by 10.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock worth $1,102,857,000 after buying an additional 823,036 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Novo Nordisk A/S by 34,472.1% during the second quarter. Marshall Wace LLP now owns 691,441 shares of the company’s stock valued at $98,696,000 after buying an additional 689,441 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.5 %

The firm has a market capitalization of $527.91 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a 50-day moving average of $128.79 and a 200-day moving average of $131.72.

Novo Nordisk A/S (NYSE:NVO) 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 firm had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. On average, 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 business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. 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 24.83%.

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.