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

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

Analyst Ratings Changes

NVO has been the topic of several recent analyst reports. BMO Capital Markets reduced their price objective 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 lifted their price objective on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. StockNews.com lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 19th. The Goldman Sachs Group started coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Monday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

The firm has a market capitalization of $592.76 billion, a P/E ratio of 45.54, a P/E/G ratio of 1.48 and a beta of 0.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75. The stock’s fifty day simple moving average is $133.74 and its 200 day simple moving average is $133.20.

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 analysts’ consensus estimates 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 firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.11 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 24.83%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds have recently modified their holdings of NVO. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S in the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in Novo Nordisk A/S in the second quarter valued at approximately $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S in the first quarter valued at approximately $26,000. 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.