Novo Nordisk A/S (NYSE:NVO) Trading 1.5% Higher

Novo Nordisk A/S (NYSE:NVO)’s stock price rose 1.5% on Thursday . The company traded as high as $135.20 and last traded at $134.04. Approximately 800,326 shares traded hands during trading, a decline of 81% from the average daily volume of 4,226,221 shares. The stock had previously closed at $132.06.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NVO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research report on Monday, September 16th. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. StockNews.com raised shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Argus lifted their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, 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 price objective for the company. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Buy” and an average target price of $145.17.

Novo Nordisk A/S Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The firm’s 50-day moving average price is $133.13 and its two-hundred day moving average price is $133.20. The firm has a market capitalization of $572.21 billion, a price-to-earnings ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (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 company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Sell-side 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 company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in the stock. Advisor OS LLC grew its holdings in Novo Nordisk A/S by 0.6% in the 2nd quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock valued at $1,994,000 after buying an additional 82 shares in the last quarter. Cascade Financial Partners LLC grew its stake in shares of Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after acquiring an additional 84 shares in the last quarter. Cravens & Co Advisors LLC raised its stake in Novo Nordisk A/S by 1.0% in the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after purchasing an additional 85 shares in the last quarter. AA Financial Advisors LLC boosted its holdings in Novo Nordisk A/S by 3.2% in the 2nd quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after purchasing an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC grew its position in shares of Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares in the last quarter. Institutional investors and hedge funds 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.