Novo Nordisk A/S (NYSE:NVO) Shares Up 1.8%

Novo Nordisk A/S (NYSE:NVO)’s share price rose 1.8% on Tuesday . The company traded as high as $130.46 and last traded at $129.21. Approximately 4,039,281 shares changed hands during trading, a decline of 15% from the average daily volume of 4,752,512 shares. The stock had previously closed at $126.88.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group initiated coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. BMO Capital Markets started coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. 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, April 18th. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target for the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S Stock Performance

The stock has a market cap of $575.79 billion, a P/E ratio of 47.47, a PEG ratio of 2.12 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The company’s 50-day simple moving average is $126.92 and its 200 day simple moving average is $112.40.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. The business had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were issued a $0.664 dividend. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, March 22nd. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 49.17%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently modified their holdings of NVO. Warther Private Wealth LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter valued at about $277,000. WealthBridge Capital Management LLC grew its stake in Novo Nordisk A/S by 10.3% in the 1st quarter. WealthBridge Capital Management LLC now owns 5,560 shares of the company’s stock worth $714,000 after buying an additional 521 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of Novo Nordisk A/S by 30.3% in the 1st quarter. Arkadios Wealth Advisors now owns 13,867 shares of the company’s stock worth $1,781,000 after buying an additional 3,222 shares during the last quarter. Perigon Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 52.8% during the 1st quarter. Perigon Wealth Management LLC now owns 18,593 shares of the company’s stock valued at $2,387,000 after buying an additional 6,428 shares in the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC bought a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $236,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

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.