Novo Nordisk A/S (NYSE:NVO) Shares Up 2.1%

Novo Nordisk A/S (NYSE:NVO) shares shot up 2.1% on Tuesday . The company traded as high as $127.95 and last traded at $127.87. 995,535 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,819,986 shares. The stock had previously closed at $125.26.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, April 18th. BMO Capital Markets assumed coverage on shares of Novo Nordisk A/S in a report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. UBS Group assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating on the stock. Finally, Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Trading Down 1.9 %

The company has a market cap of $566.33 billion, a P/E ratio of 46.65, a P/E/G ratio of 2.15 and a beta of 0.41. The stock’s 50-day moving average is $126.72 and its two-hundred day moving average is $111.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $9.14 billion. As a group, equities research analysts predict that Novo Nordisk A/S will post 3.32 earnings per share 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 given a $0.664 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 49.17%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc raised its position in shares of Novo Nordisk A/S by 61.6% during the 3rd quarter. IFP Advisors Inc now owns 4,244 shares of the company’s stock valued at $386,000 after purchasing an additional 1,618 shares during the period. Hartford Investment Management Co. raised its position in shares of Novo Nordisk A/S by 63.8% during the 3rd quarter. Hartford Investment Management Co. now owns 3,924 shares of the company’s stock valued at $357,000 after purchasing an additional 1,528 shares during the period. Capital Investment Advisors LLC bought a new stake in shares of Novo Nordisk A/S during the 3rd quarter valued at $222,000. Park Place Capital Corp raised its position in shares of Novo Nordisk A/S by 118.7% during the 3rd quarter. Park Place Capital Corp now owns 584 shares of the company’s stock valued at $53,000 after purchasing an additional 317 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Novo Nordisk A/S by 69.1% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 487 shares of the company’s stock valued at $44,000 after purchasing an additional 199 shares during the period. 11.54% of the stock is currently owned by institutional investors.

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.