Novo Nordisk A/S (NYSE:NVO) Trading Down 1.3%

Novo Nordisk A/S (NYSE:NVO)’s share price fell 1.3% during trading on Thursday . The company traded as low as $123.21 and last traded at $124.46. 1,152,898 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,787,463 shares. The stock had previously closed at $126.16.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. 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 objective 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. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Finally, BMO Capital Markets initiated 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 objective on the stock. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Stock Up 0.9 %

The business has a fifty day moving average of $126.86 and a 200 day moving average of $111.98. The company has a market capitalization of $569.29 billion, a PE ratio of 46.90, a PEG ratio of 2.10 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 quarterly earnings data 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. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Equities research analysts anticipate that Novo Nordisk A/S will post 3.32 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors have recently added to or reduced their stakes in the business. Capital Investment Advisors LLC acquired a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $222,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Novo Nordisk A/S by 14.2% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 5,522 shares of the company’s stock worth $502,000 after acquiring an additional 685 shares during the period. Ballentine Partners LLC grew its holdings in Novo Nordisk A/S by 102.6% during the third quarter. Ballentine Partners LLC now owns 17,478 shares of the company’s stock worth $1,589,000 after acquiring an additional 8,851 shares during the period. Grimes & Company Inc. grew its holdings in Novo Nordisk A/S by 88.6% during the third quarter. Grimes & Company Inc. now owns 100,881 shares of the company’s stock worth $9,174,000 after acquiring an additional 47,395 shares during the period. Finally, Investment Research & Advisory Group Inc. grew its holdings in Novo Nordisk A/S by 100.0% during the third quarter. Investment Research & Advisory Group Inc. now owns 432 shares of the company’s stock worth $39,000 after acquiring an additional 216 shares during the period. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.