Novo Nordisk A/S (NYSE:NVO) Shares Up 0.9%

Novo Nordisk A/S (NYSE:NVOGet Free Report)’s share price rose 0.9% during mid-day trading on Wednesday . The stock traded as high as $127.70 and last traded at $127.66. Approximately 1,520,909 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 5,122,253 shares. The stock had previously closed at $126.46.

Analysts Set New Price Targets

A number of brokerages have commented on NVO. 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 Monday. UBS Group started coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating for the company. Finally, Morgan Stanley started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.25.

Get Our Latest Report on Novo Nordisk A/S

Novo Nordisk A/S Trading Up 0.4 %

The company’s 50-day moving average is $123.47 and its 200-day moving average is $107.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The firm has a market cap of $569.74 billion, a price-to-earnings ratio of 47.19, a P/E/G ratio of 2.11 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last announced its earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. On average, research analysts predict that Novo Nordisk A/S will post 3.35 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Investors of record on Monday, March 25th were given a $0.664 dividend. This represents a yield of 0.9%. The ex-dividend date was Friday, March 22nd. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s payout ratio is 49.17%.

Institutional Trading of Novo Nordisk A/S

A number of institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. grew its holdings in shares of Novo Nordisk A/S by 83.3% in the 3rd quarter. Westside Investment Management Inc. now owns 1,428 shares of the company’s stock valued at $130,000 after buying an additional 649 shares during the period. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new position in Novo Nordisk A/S in the 3rd quarter worth $2,408,000. Lazard Asset Management LLC boosted its stake in Novo Nordisk A/S by 182.2% in the 3rd quarter. Lazard Asset Management LLC now owns 1,494,214 shares of the company’s stock worth $135,883,000 after purchasing an additional 964,640 shares during the period. Benedict Financial Advisors Inc. boosted its stake in Novo Nordisk A/S by 94.0% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 44,292 shares of the company’s stock worth $4,028,000 after purchasing an additional 21,457 shares during the period. Finally, CENTRAL TRUST Co boosted its stake in Novo Nordisk A/S by 111.6% in the 3rd quarter. CENTRAL TRUST Co now owns 6,004 shares of the company’s stock worth $546,000 after purchasing an additional 3,166 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Novo Nordisk A/S

(Get Free Report)

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.

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