Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Time to Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price gapped up before the market opened on Monday . The stock had previously closed at $51.83, but opened at $54.60. Novo Nordisk A/S shares last traded at $54.19, with a volume of 10,488,848 shares traded.

Wall Street Analyst Weigh In

NVO has been the subject of several analyst reports. Hsbc Global Res lowered Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. TD Cowen dropped their target price on Novo Nordisk A/S from $105.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday. Barclays reissued an “equal weight” rating on shares of Novo Nordisk A/S in a report on Wednesday, July 30th. Finally, Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $81.00.

Novo Nordisk A/S Stock Up 1.8%

The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The firm has a market cap of $244.42 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.84 and a beta of 0.63. The business has a fifty day moving average of $64.03 and a 200 day moving average of $69.92.

Novo Nordisk A/S (NYSE:NVO) last issued its earnings results on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The firm had revenue of $11.69 billion during the quarter, compared to the consensus estimate of $77.51 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be paid a $0.4119 dividend. This represents a yield of 240.0%. The ex-dividend date is Monday, August 18th. Novo Nordisk A/S’s payout ratio is presently 22.53%.

Institutional Trading of Novo Nordisk A/S

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Revolve Wealth Partners LLC increased its holdings in shares of Novo Nordisk A/S by 8.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after acquiring an additional 200 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Novo Nordisk A/S by 845.7% during the 4th quarter. First Trust Advisors LP now owns 579,653 shares of the company’s stock worth $49,862,000 after buying an additional 518,361 shares during the last quarter. Natixis grew its stake in Novo Nordisk A/S by 966.7% in the 4th quarter. Natixis now owns 27,798 shares of the company’s stock valued at $2,391,000 after buying an additional 25,192 shares during the last quarter. MML Investors Services LLC increased its stake in shares of Novo Nordisk A/S by 1.9% during the fourth quarter. MML Investors Services LLC now owns 274,230 shares of the company’s stock worth $23,589,000 after purchasing an additional 4,983 shares during the period. Finally, Transce3nd LLC acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $33,000. 11.54% of the stock is owned by institutional investors.

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.