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

Shares of Novo Nordisk A/S (NYSE:NVO) rose 1.5% during trading on Thursday . The stock traded as high as $136.55 and last traded at $136.44. Approximately 555,271 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 4,364,983 shares. The stock had previously closed at $134.48.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a report on Monday, August 19th. Argus boosted their price objective on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company. BMO Capital Markets reduced their price target 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. Finally, StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S has a consensus rating of “Moderate Buy” and a consensus price target of $145.17.

Novo Nordisk A/S Stock Performance

The stock’s 50-day simple moving average is $135.81 and its 200 day simple moving average is $131.93. The company has a market capitalization of $624.44 billion, a PE ratio of 47.98, a P/E/G ratio of 1.33 and a beta of 0.41. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.50 and a current ratio of 0.70.

Novo Nordisk A/S (NYSE:NVO) last issued 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). The firm had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.91 billion. Novo Nordisk A/S had a return on equity of 91.70% and a net margin of 36.56%. As a group, research analysts expect that Novo Nordisk A/S will post 3.38 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were given 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 currently 24.83%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. acquired a new stake in Novo Nordisk A/S in the second quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after acquiring an additional 120 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the second quarter worth $25,000. First PREMIER Bank acquired a new stake in Novo Nordisk A/S in the first quarter valued at $25,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth $26,000. 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.