Novo Nordisk A/S (NYSE:NVO) Stock Price Down 1.1%

Shares of Novo Nordisk A/S (NYSE:NVO) were down 1.1% during trading on Thursday . The stock traded as low as $122.55 and last traded at $123.11. Approximately 1,012,400 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 4,852,989 shares. The stock had previously closed at $124.53.

Wall Street Analyst Weigh In

Several analysts have commented on NVO shares. BMO Capital Markets started coverage on shares of Novo Nordisk A/S in a research report on Friday, April 12th. They issued an “outperform” rating and a $163.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday. UBS Group assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 16th. They set a “neutral” rating for the company. Finally, Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an “overweight” rating and a $120.00 price objective for the company. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Trading Down 1.4 %

The company has a market cap of $550.89 billion, a price-to-earnings ratio of 45.51, a PEG ratio of 2.06 and a beta of 0.41. 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 business’s 50 day moving average price is $126.28 and its 200-day moving average price is $110.42.

Novo Nordisk A/S (NYSE:NVO) 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. The business had revenue of $9.51 billion during the quarter, compared to analysts’ expectations of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. On average, research analysts forecast that Novo Nordisk A/S will post 3.33 EPS 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. Shareholders of record on Monday, March 25th were issued a dividend of $0.664 per share. The ex-dividend date was Friday, March 22nd. This represents a yield of 0.9%. This is a positive change from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. Novo Nordisk A/S’s dividend payout ratio is currently 49.17%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently added to or reduced their stakes in the stock. Pacific Center for Financial Services boosted its stake in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. First PREMIER Bank bought a new position in shares of Novo Nordisk A/S in the 1st quarter valued at about $25,000. Copeland Capital Management LLC boosted its stake in shares of Novo Nordisk A/S by 100.0% in the 3rd quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock valued at $26,000 after purchasing an additional 141 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in shares of Novo Nordisk A/S by 79.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Finally, CNB Bank bought a new position in shares of Novo Nordisk A/S in the 4th quarter valued at about $26,000. 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.