Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.2%

Novo Nordisk A/S (NYSE:NVO) was down 0.2% on Tuesday . The stock traded as low as $128.44 and last traded at $128.85. Approximately 1,359,717 shares traded hands during trading, a decline of 74% from the average daily volume of 5,232,224 shares. The stock had previously closed at $129.05.

Analyst Ratings Changes

NVO has been the subject of a number of recent research reports. TD Cowen upped their target price on Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. UBS Group began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating on the stock. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, March 20th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.25.

Novo Nordisk A/S Price Performance

The stock has a market cap of $574.63 billion, a PE ratio of 47.34, a P/E/G ratio of 2.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The business has a 50 day moving average price of $121.34 and a two-hundred day moving average price of $104.22.

Novo Nordisk A/S (NYSE:NVO) last released its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9.14 billion. Research analysts expect that Novo Nordisk A/S will post 3.35 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Investors of record on Monday, March 25th will be paid a $0.664 dividend. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. The ex-dividend date is Friday, March 22nd. Novo Nordisk A/S’s payout ratio is currently 49.17%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in NVO. Pacific Center for Financial Services boosted its stake in Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock worth $25,000 after purchasing an additional 135 shares during the period. Copeland Capital Management LLC increased its holdings in Novo Nordisk A/S by 100.0% during the 3rd quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock worth $26,000 after acquiring an additional 141 shares during the period. Bell Investment Advisors Inc lifted 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. CNB Bank bought a new position in Novo Nordisk A/S in the 4th quarter valued at $26,000. Finally, Citizens National Bank Trust Department increased its holdings in shares of Novo Nordisk A/S by 100.0% in the third quarter. Citizens National Bank Trust Department now owns 300 shares of the company’s stock worth $27,000 after purchasing an additional 150 shares during the period. 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.