Novo Nordisk A/S (NYSE:NVO) Trading Up 1.5% – Here’s What Happened

Shares of Novo Nordisk A/S (NYSE:NVO) shot up 1.5% during trading on Monday . The company traded as high as $65.28 and last traded at $63.51. 5,976,557 shares traded hands during trading, an increase of 6% from the average session volume of 5,649,010 shares. The stock had previously closed at $62.55.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. BMO Capital Markets reduced their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Thursday, March 13th. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Finally, Stifel Nicolaus lowered shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The company has a market capitalization of $292.41 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 0.90 and a beta of 0.61. The firm has a 50-day simple moving average of $78.66 and a two-hundred day simple moving average of $94.43.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, sell-side analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were paid a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date was Monday, March 31st. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 49.54%.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in NVO. Center for Financial Planning Inc. raised its holdings in shares of Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Novo Nordisk A/S in the fourth quarter valued at $29,000. Transce3nd LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter worth about $33,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth about $39,000. Institutional investors and hedge funds 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.