Novo Nordisk A/S (NYSE:NVO) Shares Up 0.4%

Novo Nordisk A/S (NYSE:NVO)’s share price was up 0.4% on Monday . The stock traded as high as $138.20 and last traded at $137.59. Approximately 444,848 shares changed hands during trading, a decline of 90% from the average daily volume of 4,250,385 shares. The stock had previously closed at $137.00.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NVO. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Argus boosted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. Finally, StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 19th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.17.

Novo Nordisk A/S Trading Up 0.3 %

The stock has a market cap of $616.41 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 1.48 and a beta of 0.42. The business has a 50-day simple moving average of $134.03 and a two-hundred day simple moving average of $133.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. As a group, research analysts forecast that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is presently 24.83%.

Institutional Trading of Novo Nordisk A/S

Large investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. increased its position in Novo Nordisk A/S by 33.3% during the second quarter. Newbridge Financial Services Group Inc. now owns 16,948 shares of the company’s stock worth $2,419,000 after buying an additional 4,233 shares during the last quarter. Prio Wealth Limited Partnership raised its stake in Novo Nordisk A/S by 3.2% in the 2nd quarter. Prio Wealth Limited Partnership now owns 201,898 shares of the company’s stock valued at $28,819,000 after acquiring an additional 6,181 shares during the period. Heritage Wealth Management Inc. acquired a new stake in Novo Nordisk A/S during the 2nd quarter valued at $457,000. Lazari Capital Management Inc. acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at $242,000. Finally, Sanctuary Advisors LLC bought a new position in shares of Novo Nordisk A/S in the second quarter valued at about $41,646,000. Institutional investors and hedge funds 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.