Novo Nordisk A/S (NYSE:NVO) Shares Up 0.9%

Novo Nordisk A/S (NYSE:NVOGet Free Report) traded up 0.9% during mid-day trading on Wednesday . The stock traded as high as $127.70 and last traded at $127.66. 1,520,909 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 5,122,253 shares. The stock had previously closed at $126.46.

Analysts Set New Price Targets

Several equities analysts have issued reports 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 report on Monday. UBS Group assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.25.

View Our Latest Analysis on NVO

Novo Nordisk A/S Stock Up 0.4 %

The stock has a market capitalization of $569.74 billion, a PE ratio of 47.19, a price-to-earnings-growth ratio of 2.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The business’s fifty day moving average price is $123.47 and its two-hundred day moving average price is $107.00.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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 company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.35 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in NVO. Jennison Associates LLC raised its position in shares of Novo Nordisk A/S by 100.3% in the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after acquiring an additional 11,727,507 shares during the period. Polen Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the third quarter worth about $718,995,000. FMR LLC raised its position in shares of Novo Nordisk A/S by 122.7% in the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock worth $1,098,328,000 after acquiring an additional 6,654,614 shares during the period. Morgan Stanley raised its position in shares of Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock worth $838,021,000 after acquiring an additional 4,526,199 shares during the period. Finally, Loomis Sayles & Co. L P raised its position in shares of Novo Nordisk A/S by 91.7% in the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after acquiring an additional 4,350,862 shares during the period. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Company Profile

(Get Free Report)

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.

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