Novo Nordisk A/S (NYSE:NVO) Trading 0.1% Higher – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) were up 0.1% on Tuesday . The stock traded as high as $113.27 and last traded at $112.52. Approximately 2,819,020 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 4,284,642 shares. The stock had previously closed at $112.36.

Analyst Ratings Changes

Several analysts recently commented on the stock. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. StockNews.com lowered Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

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 company’s 50 day moving average is $125.25 and its 200 day moving average is $131.06. The stock has a market cap of $502.47 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced 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 return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Research analysts forecast that Novo Nordisk A/S will post 3.01 earnings per share for the current fiscal 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 given a $0.5126 dividend. This represents a dividend yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio is currently 24.66%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in NVO. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Novo Nordisk A/S in the second quarter valued at $25,000. Orion Capital Management LLC purchased a new stake in Novo Nordisk A/S during the 1st quarter worth about $26,000. Gilliland Jeter Wealth Management LLC raised its stake in Novo Nordisk A/S by 200.0% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after purchasing an additional 120 shares during the last quarter. Finally, Halpern Financial Inc. lifted its holdings in Novo Nordisk A/S by 113.0% in the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.