Novo Nordisk A/S (NYSE:NVO) Stock Price Up 2.1%

Novo Nordisk A/S (NYSE:NVO)’s stock price traded up 2.1% on Tuesday . The stock traded as high as $127.95 and last traded at $127.87. 995,535 shares were traded during mid-day trading, a decline of 79% from the average session volume of 4,819,986 shares. The stock had previously closed at $125.26.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVO shares. BMO Capital Markets began coverage on Novo Nordisk A/S in a research report on Friday, April 12th. They set an “outperform” rating and a $163.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of Novo Nordisk A/S in a report on Thursday, April 18th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 price objective for the company. Finally, UBS Group began coverage on Novo Nordisk A/S in a research note on Tuesday, January 16th. They issued a “neutral” rating on the stock. Two research 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 data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus target price of $133.60.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.82 and a quick ratio of 0.64. The company has a 50 day simple moving average of $126.49 and a 200-day simple moving average of $111.28. The stock has a market cap of $575.53 billion, a P/E ratio of 47.34, a price-to-earnings-growth ratio of 2.05 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVO) last issued 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 return on equity of 90.36% and a net margin of 36.03%. On average, equities analysts expect that Novo Nordisk A/S will post 3.32 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its holdings in Novo Nordisk A/S by 133.2% during the 3rd quarter. International Assets Investment Management LLC now owns 7,837 shares of the company’s stock valued at $719,000 after purchasing an additional 4,476 shares during the period. AE Wealth Management LLC increased its holdings in Novo Nordisk A/S by 142.8% during the 3rd quarter. AE Wealth Management LLC now owns 26,888 shares of the company’s stock valued at $2,445,000 after purchasing an additional 15,812 shares during the period. IFP Advisors Inc increased its holdings in Novo Nordisk A/S by 61.6% during the 3rd quarter. IFP Advisors Inc now owns 4,244 shares of the company’s stock valued at $386,000 after purchasing an additional 1,618 shares during the period. Arkadios Wealth Advisors increased its holdings in Novo Nordisk A/S by 99.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 3,671 shares of the company’s stock valued at $334,000 after purchasing an additional 1,831 shares during the period. Finally, RFG Advisory LLC increased its holdings in Novo Nordisk A/S by 90.1% during the 3rd quarter. RFG Advisory LLC now owns 7,039 shares of the company’s stock valued at $640,000 after purchasing an additional 3,336 shares during the period. Hedge funds and other 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.