Novo Nordisk A/S (NYSE:NVO) Trading 0.8% Higher

Novo Nordisk A/S (NYSE:NVO)’s share price was up 0.8% during mid-day trading on Monday . The stock traded as high as $126.05 and last traded at $125.47. Approximately 1,071,248 shares changed hands during trading, a decline of 78% from the average daily volume of 4,933,323 shares. The stock had previously closed at $124.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NVO shares. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a research report on Friday. They set an “outperform” rating and a $163.00 target price for the company. UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. Finally, 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 Monday, April 1st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The firm’s 50 day simple moving average is $125.93 and its 200 day simple moving average is $109.86. The stock has a market capitalization of $556.81 billion, a PE ratio of 46.38, a P/E/G ratio of 2.07 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The company had revenue of $9.51 billion for the quarter, compared to the consensus estimate of $9.14 billion. As a group, equities analysts forecast that Novo Nordisk A/S will post 3.33 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were given a dividend of $0.664 per share. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. The ex-dividend date was Friday, March 22nd. Novo Nordisk A/S’s payout ratio is presently 49.17%.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds have recently modified their holdings of NVO. Pacific Center for Financial Services boosted its holdings in shares of Novo Nordisk A/S by 100.0% during the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at $25,000. Copeland Capital Management LLC boosted its stake in Novo Nordisk A/S by 100.0% in the 3rd quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock worth $26,000 after purchasing an additional 141 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in Novo Nordisk A/S by 79.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares in the last quarter. Finally, CNB Bank bought a new position in Novo Nordisk A/S in the 4th quarter worth about $26,000. 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.