Novo Nordisk A/S (NYSE:NVO) Stock Price Up 1% – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) rose 1% during mid-day trading on Friday . The stock traded as high as $76.64 and last traded at $76.65. Approximately 1,672,381 shares were traded during trading, a decline of 81% from the average daily volume of 8,702,514 shares. The stock had previously closed at $75.89.

Wall Street Analyst Weigh In

NVO has been the subject of several research reports. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating for the company. BMO Capital Markets dropped their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Finally, StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Performance

The company’s 50-day simple moving average is $83.95 and its 200 day simple moving average is $103.01. 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 cap of $346.54 billion, a P/E ratio of 23.47, a PEG ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly 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 net margin of 34.81% and a return on equity of 84.68%. As a group, sell-side analysts expect 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 declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently modified their holdings of the stock. Natixis Advisors LLC increased its stake in shares of Novo Nordisk A/S by 2.7% during the 3rd quarter. Natixis Advisors LLC now owns 3,074,876 shares of the company’s stock worth $366,125,000 after purchasing an additional 80,070 shares during the last quarter. Norman Fields Gottscho Capital Management LLC grew its stake in Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock valued at $5,482,000 after buying an additional 19,870 shares in the last quarter. Bryn Mawr Capital Management LLC grew its stake in Novo Nordisk A/S by 358.8% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock valued at $3,346,000 after buying an additional 30,420 shares in the last quarter. Versant Capital Management Inc purchased a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $86,000. Finally, Talbot Financial LLC purchased a new position in Novo Nordisk A/S in the 4th quarter valued at approximately $4,066,000. Hedge funds and other institutional investors own 11.54% of the company’s stock.

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.