Novo Nordisk A/S (NYSE:NVO) Trading Down 0.3%

Novo Nordisk A/S (NYSE:NVO)’s share price traded down 0.3% during mid-day trading on Tuesday . The company traded as low as $121.79 and last traded at $123.57. 1,246,042 shares were traded during trading, a decline of 75% from the average session volume of 4,908,507 shares. The stock had previously closed at $123.90.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price objective on the stock. Morgan Stanley initiated 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 target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday, April 1st. Finally, UBS Group initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. Two equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $133.60.

Novo Nordisk A/S Trading Up 0.9 %

The business’s fifty day moving average is $126.28 and its 200-day moving average is $110.42. The firm has a market cap of $558.92 billion, a P/E ratio of 46.04, a price-to-earnings-growth ratio of 2.06 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.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. Analysts predict that Novo Nordisk A/S will post 3.33 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Pacific Center for Financial Services raised its holdings in 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 worth $25,000 after purchasing an additional 135 shares during the last quarter. First PREMIER Bank bought a new position in Novo Nordisk A/S during the 1st quarter worth approximately $25,000. Copeland Capital Management LLC raised 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 purchasing an additional 141 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in Novo Nordisk A/S by 79.9% during 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 during the last quarter. Finally, CNB Bank bought a new position in Novo Nordisk A/S during the 4th quarter worth approximately $26,000. Institutional investors own 11.54% of the company’s stock.

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.