Novo Nordisk A/S (NYSE:NVO) Shares Up 0.6% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO) shares were up 0.6% during trading on Friday . The stock traded as high as $90.22 and last traded at $89.76. Approximately 2,487,151 shares were traded during trading, a decline of 73% from the average daily volume of 9,058,320 shares. The stock had previously closed at $89.22.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Two investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Trading Up 1.6 %

The business has a 50 day moving average of $84.82 and a 200 day moving average of $106.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The firm has a market capitalization of $406.91 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, research analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be paid a $0.7874 dividend. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is presently 47.72%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. HM Payson & Co. grew its stake in Novo Nordisk A/S by 3.8% in the third quarter. HM Payson & Co. now owns 4,125 shares of the company’s stock valued at $491,000 after acquiring an additional 150 shares during the period. Principal Securities Inc. grew its position in shares of Novo Nordisk A/S by 1.7% in the 3rd quarter. Principal Securities Inc. now owns 41,787 shares of the company’s stock valued at $4,976,000 after purchasing an additional 708 shares during the period. Focus Financial Network Inc. grew its position in shares of Novo Nordisk A/S by 2.9% in the 3rd quarter. Focus Financial Network Inc. now owns 8,120 shares of the company’s stock valued at $967,000 after purchasing an additional 227 shares during the period. Farther Finance Advisors LLC raised its holdings in Novo Nordisk A/S by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 29,737 shares of the company’s stock worth $3,541,000 after buying an additional 3,137 shares during the period. Finally, Fullcircle Wealth LLC raised its holdings in Novo Nordisk A/S by 36.4% during the 3rd quarter. Fullcircle Wealth LLC now owns 14,307 shares of the company’s stock worth $1,608,000 after buying an additional 3,816 shares during the period. 11.54% of the stock is 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.