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

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target 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 on the stock. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research note on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price target on the stock. Finally, BMO Capital Markets began coverage on shares of Novo Nordisk A/S in a research note on Friday, April 12th. They set an “outperform” rating and a $163.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Stock Down 1.4 %

The firm’s 50-day simple moving average is $126.28 and its two-hundred day simple moving average is $110.42. The company has a market capitalization of $550.89 billion, a price-to-earnings ratio of 45.51, a price-to-earnings-growth ratio of 2.06 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The business had revenue of $9.51 billion for 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%. Sell-side analysts predict that Novo Nordisk A/S will post 3.33 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the company. Pacific Center for Financial Services lifted its stake in shares of Novo Nordisk A/S by 100.0% during the third quarter. Pacific Center for Financial Services now owns 270 shares of the company’s stock valued at $25,000 after buying an additional 135 shares during the period. First PREMIER Bank purchased a new position in shares of Novo Nordisk A/S during the first quarter valued at approximately $25,000. Copeland Capital Management LLC lifted its stake in shares of Novo Nordisk A/S by 100.0% during the third quarter. Copeland Capital Management LLC now owns 282 shares of the company’s stock valued at $26,000 after buying an additional 141 shares during the period. Bell Investment Advisors Inc raised its stake in Novo Nordisk A/S by 79.9% during the third quarter. Bell Investment Advisors Inc now owns 286 shares of the company’s stock worth $26,000 after purchasing an additional 127 shares during the period. Finally, CNB Bank purchased a new position in Novo Nordisk A/S during the fourth quarter worth approximately $26,000. 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.