Novo Nordisk A/S (NYSE:NVO) Trading Up 1.5% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price shot up 1.5% during trading on Tuesday . The company traded as high as $93.80 and last traded at $91.96. 4,740,854 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 9,154,660 shares. The stock had previously closed at $90.59.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Finally, UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Two investment 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $399.68 billion, a P/E ratio of 27.07, a P/E/G ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The firm has a 50-day moving average price of $85.66 and a two-hundred day moving average price of $107.72.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be paid a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently bought and sold shares of the company. Center for Financial Planning Inc. lifted its stake in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after acquiring an additional 123 shares during the period. Strategic Investment Solutions Inc. IL raised its holdings in shares of Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $28,000. Transce3nd LLC bought a new position in shares of Novo Nordisk A/S during the fourth quarter valued at approximately $33,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in Novo Nordisk A/S during the fourth quarter valued at approximately $39,000. 11.54% of the stock is owned by institutional investors.

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.