Novo Nordisk A/S (NYSE:NVO) Shares Up 5.3% – Here’s Why

Shares of Novo Nordisk A/S (NYSE:NVO) rose 5.3% on Tuesday . The company traded as high as $82.68 and last traded at $82.03. Approximately 4,842,355 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 9,184,690 shares. The stock had previously closed at $77.87.

Analyst Ratings Changes

Several analysts have recently weighed in on NVO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research report on Monday, December 2nd. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. BMO Capital Markets lowered their price target on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Finally, StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Sunday, December 29th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Novo Nordisk A/S presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Trading Up 0.5 %

The stock has a market capitalization of $376.02 billion, a P/E ratio of 25.47, a P/E/G ratio of 0.88 and a beta of 0.45. The stock’s 50 day moving average price is $86.89 and its 200-day moving average price is $108.66. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. As a group, equities research analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a dividend yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s payout ratio is presently 21.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Center for Financial Planning Inc. boosted its position in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after buying an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL increased its holdings in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after buying an additional 300 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Novo Nordisk A/S in the 3rd quarter worth about $28,000. Transce3nd LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth approximately $33,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in Novo Nordisk A/S during the fourth quarter valued at $39,000. 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.