Novo Nordisk A/S (NYSE:NVO) Shares Up 1.5% – Should You Buy?

Novo Nordisk A/S (NYSE:NVO) shares shot up 1.5% during mid-day trading on Tuesday . The stock traded as high as $93.80 and last traded at $91.96. 4,740,854 shares were traded during mid-day trading, a decline of 48% from the average session volume of 9,154,660 shares. The stock had previously closed at $90.59.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BNP Paribas upgraded shares of Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley initiated coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Wednesday, November 6th. Finally, BMO Capital Markets dropped their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a research note on Monday, December 23rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $399.68 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 0.90 and a beta of 0.45. The firm’s 50 day simple moving average is $85.66 and its 200 day simple moving average is $107.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate 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%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be given a $0.7874 dividend. This represents a yield of 1.2%. The ex-dividend date is Monday, March 31st. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio is currently 47.72%.

Institutional Trading of Novo Nordisk A/S

Several institutional investors have recently modified their holdings of NVO. Center for Financial Planning Inc. increased its position in shares of Novo Nordisk A/S by 72.4% during the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL increased its stake in shares of Novo Nordisk A/S by 2,727.3% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after acquiring an additional 300 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the third quarter valued at about $28,000. Transce3nd LLC acquired a new stake in Novo Nordisk A/S during the fourth quarter worth about $33,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new position in Novo Nordisk A/S during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.