Novo Nordisk A/S (NYSE:NVO) Stock Price Up 1.6% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) rose 1.6% on Friday . The stock traded as high as $60.10 and last traded at $59.68. Approximately 15,315,018 shares traded hands during trading, an increase of 26% from the average daily volume of 12,183,284 shares. The stock had previously closed at $58.74.

Wall Street Analyst Weigh In

NVO has been the topic of several analyst reports. Rothschild Redb raised Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 16th. Berenberg Bank upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. HSBC set a $70.00 price objective on Novo Nordisk A/S in a report on Wednesday. Hsbc Global Res upgraded Novo Nordisk A/S from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $77.50.

Novo Nordisk A/S Stock Up 1.6%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock has a market capitalization of $266.45 billion, a PE ratio of 16.39, a PEG ratio of 2.28 and a beta of 0.68. The business has a 50 day moving average of $54.92 and a two-hundred day moving average of $63.73.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The firm had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. 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 was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. North Capital Inc. purchased a new stake in Novo Nordisk A/S in the first quarter valued at about $27,000. Copeland Capital Management LLC increased its holdings in shares of Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the period. Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S in the first quarter valued at about $30,000. NewSquare Capital LLC increased its holdings in shares of Novo Nordisk A/S by 174.1% in the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock valued at $31,000 after purchasing an additional 282 shares during the period. Finally, Disciplina Capital Management LLC raised its position in Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock valued at $33,000 after acquiring an additional 297 shares in the last quarter. 11.54% of the stock is currently 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.