Novo Nordisk A/S (NYSE:NVO) Shares Up 5.3% – Still a Buy?

Shares of Novo Nordisk A/S (NYSE:NVO) were up 5.3% during mid-day trading on Tuesday . The company traded as high as $82.68 and last traded at $82.03. Approximately 4,842,355 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 9,184,690 shares. The stock had previously closed at $77.87.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVO. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating 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 Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Finally, Sanford C. Bernstein raised shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Two 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 has a consensus rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $376.02 billion, a PE ratio of 25.47, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45. The firm’s fifty day moving average is $86.89 and its 200-day moving average is $108.66.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) 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%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 21.88%.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors and hedge funds have recently modified their holdings of NVO. Center for Financial Planning Inc. grew its position in 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 acquiring an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in shares of 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 purchasing an additional 300 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S in the third quarter valued at approximately $28,000. Transce3nd LLC purchased a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $33,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new stake in Novo Nordisk A/S during the 4th quarter worth approximately $39,000. 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.