Novo Nordisk A/S (NYSE:NVO) Trading Down 0.4%

Novo Nordisk A/S (NYSE:NVO)’s share price was down 0.4% on Wednesday . The company traded as low as $121.79 and last traded at $123.45. Approximately 3,044,113 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 3,581,832 shares. The stock had previously closed at $123.90.

Wall Street Analyst Weigh In

Several analysts have commented on the company. UBS Group began coverage on Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. 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 Thursday. BMO Capital Markets began coverage on Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 target price for the company. Finally, Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. Two investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $133.60.

Novo Nordisk A/S Stock Down 1.4 %

The firm’s fifty day simple moving average is $126.36 and its two-hundred day simple moving average is $110.50. 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 has a market capitalization of $550.89 billion, a price-to-earnings ratio of 45.38, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Sell-side analysts anticipate that Novo Nordisk A/S will post 3.32 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Monday, March 25th were 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 dividend yield of 0.9%. The ex-dividend date 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 hedge funds have recently bought and sold shares of the stock. Tradewinds Capital Management LLC raised its holdings in Novo Nordisk A/S by 2.0% in the first quarter. Tradewinds Capital Management LLC now owns 5,055 shares of the company’s stock valued at $649,000 after acquiring an additional 100 shares in the last quarter. Azzad Asset Management Inc. ADV lifted its stake in Novo Nordisk A/S by 0.6% during the first quarter. Azzad Asset Management Inc. ADV now owns 35,168 shares of the company’s stock worth $4,516,000 after purchasing an additional 193 shares during the last quarter. Kiley Juergens Wealth Management LLC acquired a new position in Novo Nordisk A/S in the first quarter valued at approximately $2,126,000. Naviter Wealth LLC increased its stake in Novo Nordisk A/S by 23.5% in the first quarter. Naviter Wealth LLC now owns 60,871 shares of the company’s stock valued at $7,872,000 after purchasing an additional 11,567 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Novo Nordisk A/S during the first quarter worth approximately $26,000. Institutional investors and hedge funds 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.