Novo Nordisk A/S (NVO) to Issue Dividend of $0.58 on August 25th

Novo Nordisk A/S (NYSE:NVO) announced a dividend on Wednesday, August 5th. Investors of record on Monday, August 17th will be given a dividend of 0.5786 per share on Tuesday, August 25th. This represents a yield of 254.0%. The ex-dividend date of this dividend is Monday, August 17th.

Novo Nordisk A/S has increased its dividend payment by an average of 0.2%per year over the last three years. Novo Nordisk A/S has a payout ratio of 17.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Novo Nordisk A/S to earn $3.37 per share next year, which means the company should continue to be able to cover its $0.81 annual dividend with an expected future payout ratio of 24.0%.

Novo Nordisk A/S Stock Performance

Shares of NVO stock opened at $45.91 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.56 and a current ratio of 0.79. The company has a market capitalization of $204.99 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 4.23 and a beta of 0.76. The company’s 50 day moving average price is $47.36 and its two-hundred day moving average price is $44.51. Novo Nordisk A/S has a 52 week low of $35.12 and a 52 week high of $64.16.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Tuesday, June 30th. The company reported $0.94 earnings per share for the quarter. Novo Nordisk A/S had a net margin of 35.36% and a return on equity of 61.20%. The firm had revenue of $11.98 billion for the quarter. On average, analysts expect that Novo Nordisk A/S will post 3.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVO. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Novo Nordisk A/S in the first quarter valued at about $287,660,000. Boston Partners acquired a new position in Novo Nordisk A/S during the third quarter valued at approximately $310,199,000. Price T Rowe Associates Inc. MD boosted its position in Novo Nordisk A/S by 99.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,688,262 shares of the company’s stock valued at $492,940,000 after purchasing an additional 4,836,285 shares during the last quarter. Voloridge Investment Management LLC grew its stake in Novo Nordisk A/S by 851.6% in the fourth quarter. Voloridge Investment Management LLC now owns 4,807,279 shares of the company’s stock valued at $244,594,000 after purchasing an additional 4,302,126 shares in the last quarter. Finally, Maverick Capital Ltd. bought a new position in Novo Nordisk A/S in the first quarter valued at approximately $76,444,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

About Novo Nordisk A/S

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.