Novo Nordisk A/S (NYSE:NVO) Shares Up 0.2% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s share price traded up 0.2% during mid-day trading on Tuesday . The stock traded as high as $82.57 and last traded at $80.31. 2,009,699 shares were traded during mid-day trading, a decline of 63% from the average session volume of 5,387,831 shares. The stock had previously closed at $80.15.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVO. 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. Sanford C. Bernstein raised Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a report on Monday, January 6th. BNP Paribas upgraded Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com upgraded Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 13th. Finally, Stifel Nicolaus cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The firm has a fifty day simple moving average of $83.85 and a two-hundred day simple moving average of $102.39. The firm has a market cap of $361.96 billion, a PE ratio of 24.50, a PEG ratio of 0.90 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors have recently made changes to their positions in NVO. Marco Investment Management LLC raised its holdings in shares of Novo Nordisk A/S by 1.5% in the third quarter. Marco Investment Management LLC now owns 6,702 shares of the company’s stock worth $798,000 after buying an additional 100 shares during the period. Menard Financial Group LLC lifted its position in shares of Novo Nordisk A/S by 0.8% during the third quarter. Menard Financial Group LLC now owns 12,283 shares of the company’s stock worth $1,463,000 after purchasing an additional 102 shares during the last quarter. Optimist Retirement Group LLC boosted its stake in shares of Novo Nordisk A/S by 4.3% during the third quarter. Optimist Retirement Group LLC now owns 2,747 shares of the company’s stock valued at $327,000 after purchasing an additional 112 shares during the period. Financial Counselors Inc. grew its holdings in shares of Novo Nordisk A/S by 1.1% in the third quarter. Financial Counselors Inc. now owns 11,009 shares of the company’s stock worth $1,311,000 after purchasing an additional 115 shares during the last quarter. Finally, M. Kulyk & Associates LLC grew its stake in Novo Nordisk A/S by 3.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 3,182 shares of the company’s stock worth $274,000 after acquiring an additional 119 shares in the last quarter. 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.