Novo Nordisk A/S (NYSE:NVO) Stock Price Up 1.7%

Novo Nordisk A/S (NYSE:NVO)’s share price rose 1.7% during mid-day trading on Monday . The stock traded as high as $125.08 and last traded at $124.81. Approximately 1,292,534 shares traded hands during trading, a decline of 73% from the average daily volume of 4,836,456 shares. The stock had previously closed at $122.71.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on NVO shares. Morgan Stanley assumed coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective on the stock. UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They issued an “outperform” rating and a $163.00 price objective for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, April 18th. Two equities research 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Stock Up 2.7 %

The stock has a fifty day simple moving average of $126.66 and a two-hundred day simple moving average of $111.54. The firm has a market cap of $577.19 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 2.09 and a beta of 0.41. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (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 business had revenue of $9.51 billion during the quarter, compared to analyst estimates of $9.14 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.32 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were paid a dividend of $0.664 per share. The ex-dividend date was Friday, March 22nd. 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. Novo Nordisk A/S’s payout ratio is 49.17%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently modified their holdings of the company. Canal Capital Management LLC boosted its stake in Novo Nordisk A/S by 1.3% in the first quarter. Canal Capital Management LLC now owns 7,754 shares of the company’s stock worth $996,000 after buying an additional 100 shares in the last quarter. Busey Bank lifted its holdings in shares of Novo Nordisk A/S by 955.9% in the 1st quarter. Busey Bank now owns 47,189 shares of the company’s stock worth $6,059,000 after acquiring an additional 42,720 shares during the last quarter. Eads & Heald Wealth Management purchased a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at $337,000. Global Retirement Partners LLC grew its holdings in shares of Novo Nordisk A/S by 20.9% during the 1st quarter. Global Retirement Partners LLC now owns 15,673 shares of the company’s stock valued at $2,012,000 after purchasing an additional 2,709 shares during the last quarter. Finally, PFG Private Wealth Management LLC purchased a new position in Novo Nordisk A/S in the 1st quarter worth $239,000. 11.54% of the stock is currently owned by 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.