Novo Nordisk A/S (NYSE:NVO) Stock Price Up 0% – Time to Buy?

Novo Nordisk A/S (NYSE:NVO) rose 0% during mid-day trading on Friday . The company traded as high as $114.07 and last traded at $113.95. Approximately 1,197,764 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,271,650 shares. The stock had previously closed at $113.92.

Wall Street Analyst Weigh In

NVO has been the subject of a number of analyst reports. StockNews.com cut shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.50.

Novo Nordisk A/S Price Performance

The stock’s 50 day moving average price is $127.04 and its two-hundred day moving average price is $131.38. 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 firm has a market capitalization of $510.55 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 1.52 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.91 billion. On average, equities research analysts anticipate that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were paid a dividend of $0.5126 per share. This represents a yield of 0.7%. The ex-dividend date was Friday, August 16th. Novo Nordisk A/S’s payout ratio is currently 24.66%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its stake in Novo Nordisk A/S by 5.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,000 shares of the company’s stock valued at $2,500,000 after purchasing an additional 1,000 shares during the last quarter. Traynor Capital Management Inc. raised its stake in Novo Nordisk A/S by 3.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 305,404 shares of the company’s stock valued at $36,364,000 after purchasing an additional 10,019 shares during the last quarter. Old Port Advisors raised its stake in Novo Nordisk A/S by 4.8% during the 3rd quarter. Old Port Advisors now owns 5,094 shares of the company’s stock valued at $607,000 after purchasing an additional 233 shares during the last quarter. Autumn Glory Partners LLC raised its stake in Novo Nordisk A/S by 39.9% during the 3rd quarter. Autumn Glory Partners LLC now owns 22,671 shares of the company’s stock valued at $2,699,000 after purchasing an additional 6,463 shares during the last quarter. Finally, Welch Group LLC acquired a new position in shares of Novo Nordisk A/S in the 3rd quarter valued at $247,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

About Novo Nordisk A/S

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.