Novo Nordisk A/S (NYSE:NVO) Trading Up 0.2% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO) traded up 0.2% on Friday . The stock traded as high as $113.02 and last traded at $112.16. 1,172,767 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 4,347,755 shares. The stock had previously closed at $111.95.

Analyst Ratings Changes

A number of research analysts have commented on NVO shares. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Trading Down 0.1 %

The company has a market cap of $501.84 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. The company’s fifty day moving average price is $124.75 and its two-hundred day moving average price is $130.93. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.06). The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. Research analysts expect that Novo Nordisk A/S will post 3.01 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were issued a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently modified their holdings of NVO. Allspring Global Investments Holdings LLC increased its holdings in shares of Novo Nordisk A/S by 12.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 313,291 shares of the company’s stock valued at $40,227,000 after purchasing an additional 33,463 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of Novo Nordisk A/S by 19.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 14,536 shares of the company’s stock valued at $1,866,000 after purchasing an additional 2,374 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Novo Nordisk A/S by 39.7% in the 1st quarter. J.W. Cole Advisors Inc. now owns 9,231 shares of the company’s stock worth $1,183,000 after purchasing an additional 2,623 shares during the last quarter. Prosperity Consulting Group LLC acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $436,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Novo Nordisk A/S by 29.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 244,301 shares of the company’s stock worth $31,368,000 after purchasing an additional 56,060 shares during the period. 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.