Novo Nordisk A/S (NYSE:NVO) Stock Price Up 1.7%

Shares of Novo Nordisk A/S (NYSE:NVO) were up 1.7% on Monday . The company traded as high as $125.08 and last traded at $124.81. Approximately 1,292,534 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 4,836,456 shares. The stock had previously closed at $122.71.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Thursday, April 18th. Morgan Stanley started coverage on Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective for the company. UBS Group started coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a “neutral” rating on the stock. Finally, BMO Capital Markets began 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 price target on the stock. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $133.60.

Novo Nordisk A/S Trading Up 2.7 %

The business’s 50 day moving average price is $126.66 and its 200-day moving average price is $111.54. The company has a market cap of $577.19 billion, a price-to-earnings ratio of 47.55, a PEG ratio of 2.09 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.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. The firm had revenue of $9.51 billion during the quarter, compared to analyst estimates 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 3.32 EPS for the current year.

Novo Nordisk A/S Increases Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its stake in shares of Novo Nordisk A/S by 100.3% in the third quarter. Jennison Associates LLC now owns 23,419,405 shares of the company’s stock worth $2,129,761,000 after acquiring an additional 11,727,507 shares during the last quarter. Polen Capital Management LLC acquired a new position in shares of Novo Nordisk A/S during the third quarter valued at $718,995,000. FMR LLC boosted its holdings in Novo Nordisk A/S by 122.7% in the third quarter. FMR LLC now owns 12,077,501 shares of the company’s stock valued at $1,098,328,000 after acquiring an additional 6,654,614 shares during the last quarter. Morgan Stanley increased its stake in Novo Nordisk A/S by 96.5% in the third quarter. Morgan Stanley now owns 9,215,098 shares of the company’s stock valued at $838,021,000 after purchasing an additional 4,526,199 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Novo Nordisk A/S by 91.7% during the third quarter. Loomis Sayles & Co. L P now owns 9,097,808 shares of the company’s stock worth $827,354,000 after purchasing an additional 4,350,862 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.