Novo Nordisk A/S (NYSE:NVO) Stock Price Up 1.5%

Novo Nordisk A/S (NYSE:NVO) traded up 1.5% during mid-day trading on Thursday . The stock traded as high as $135.20 and last traded at $134.04. 800,326 shares changed hands during trading, a decline of 81% from the average session volume of 4,226,221 shares. The stock had previously closed at $132.06.

Wall Street Analyst Weigh In

NVO has been the subject of several recent analyst reports. BMO Capital Markets reduced their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday. The Goldman Sachs Group began 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 price target on the stock. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Argus upped their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $133.52 and its 200 day moving average is $133.19. The stock has a market capitalization of $604.38 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly 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 net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. On average, analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were issued 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 (DPR) is 24.83%.

Institutional Trading of Novo Nordisk A/S

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Novo Nordisk A/S by 38.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 94,544 shares of the company’s stock valued at $9,781,000 after buying an additional 26,067 shares during the period. Bank of New Hampshire grew its position in shares of Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after purchasing an additional 12,347 shares during the period. Cim LLC purchased a new stake in shares of Novo Nordisk A/S in the fourth quarter valued at $23,547,000. Burford Brothers Inc. acquired a new position in Novo Nordisk A/S in the fourth quarter valued at $1,045,000. Finally, Mark Asset Management LP acquired a new stake in Novo Nordisk A/S in the 4th quarter worth about $1,035,000. 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.