Novo Nordisk A/S (NYSE:NVO) Stock Price Up 4% – Still a Buy?

Novo Nordisk A/S (NYSE:NVOGet Free Report)’s share price rose 4% during mid-day trading on Tuesday . The stock traded as high as $36.75 and last traded at $36.7070. Approximately 18,830,779 shares traded hands during trading, a decline of 22% from the average daily volume of 24,192,109 shares. The stock had previously closed at $35.29.

Trending Headlines about Novo Nordisk A/S

Here are the key news stories impacting Novo Nordisk A/S this week:

Wall Street Analyst Weigh In

NVO has been the topic of a number of research analyst reports. BMO Capital Markets restated a “market perform” rating on shares of Novo Nordisk A/S in a research report on Thursday, February 5th. Argus reiterated a “hold” rating on shares of Novo Nordisk A/S in a research note on Monday, December 8th. The Goldman Sachs Group reissued a “neutral” rating and set a $41.00 price objective (down from $63.00) on shares of Novo Nordisk A/S in a report on Monday, March 2nd. Nordea Equity Research lowered Novo Nordisk A/S to a “hold” rating in a research report on Tuesday, February 24th. Finally, Jefferies Financial Group raised Novo Nordisk A/S from an “underperform” rating to a “hold” rating in a report on Thursday, February 12th. Four research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Hold” and an average target price of $65.56.

View Our Latest Stock Report on NVO

Novo Nordisk A/S Price Performance

The business has a 50-day simple moving average of $45.38 and a 200 day simple moving average of $50.29. The stock has a market cap of $163.90 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 8.52 and a beta of 0.74. The company has a current ratio of 0.80, a quick ratio of 0.57 and a debt-to-equity ratio of 0.61.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $11.97 billion. Novo Nordisk A/S had a return on equity of 68.91% and a net margin of 33.03%. On average, analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Monday, March 30th will be issued a dividend of $1.2751 per share. The ex-dividend date is Monday, March 30th. This represents a yield of 723.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 23.63%.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors have recently modified their holdings of the company. Martin Capital Partners LLC grew its stake in Novo Nordisk A/S by 53.8% during the third quarter. Martin Capital Partners LLC now owns 117,577 shares of the company’s stock worth $6,524,000 after purchasing an additional 41,129 shares during the period. Smith Chas P & Associates PA Cpas lifted its stake in Novo Nordisk A/S by 105.3% in the third quarter. Smith Chas P & Associates PA Cpas now owns 405,425 shares of the company’s stock valued at $22,497,000 after buying an additional 207,959 shares during the period. Clifford Swan Investment Counsel LLC boosted its holdings in shares of Novo Nordisk A/S by 13.7% during the 3rd quarter. Clifford Swan Investment Counsel LLC now owns 311,168 shares of the company’s stock worth $17,267,000 after buying an additional 37,453 shares in the last quarter. Markel Group Inc. boosted its holdings in shares of Novo Nordisk A/S by 4.9% during the 3rd quarter. Markel Group Inc. now owns 2,368,649 shares of the company’s stock worth $131,436,000 after buying an additional 110,061 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in shares of Novo Nordisk A/S during the 3rd quarter worth approximately $1,294,000. 11.54% of the stock is owned by institutional investors.

About Novo Nordisk A/S

(Get Free Report)

Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, best known for its leadership in diabetes care and metabolic health. The company traces its roots to early Danish insulin production in the 1920s and was established in its current form through a 1989 merger of predecessor companies. Novo Nordisk develops, manufactures and markets pharmaceutical products and devices that address chronic and serious diseases, with a strong emphasis on long-term treatment and patient support.

The company’s core product portfolio centers on diabetes therapies, including a range of insulins and modern incretin-based treatments.

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