Novo Nordisk A/S (NYSE:NVO) Shares Up 0.4%

Novo Nordisk A/S (NYSE:NVO)’s share price rose 0.4% during trading on Monday . The stock traded as high as $138.20 and last traded at $137.59. Approximately 444,848 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 4,250,385 shares. The stock had previously closed at $137.00.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a “buy” rating and a $156.00 price target for the company. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Monday. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Finally, Argus raised their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $616.41 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 1.48 and a beta of 0.42. The business’s 50 day simple moving average is $134.03 and its 200-day simple moving average is $133.02.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. On average, research analysts forecast that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds and other institutional investors have recently made changes to their positions in the stock. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the first quarter worth $25,000. 1620 Investment Advisors Inc. bought a new position in Novo Nordisk A/S in the second quarter valued at about $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $26,000. Finally, Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter valued at approximately $26,000. 11.54% of the stock is owned by 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.