Novo Nordisk A/S (NYSE:NVO) Stock Price Up 3.1% – What’s Next?

Shares of Novo Nordisk A/S (NYSE:NVO) shot up 3.1% during trading on Thursday . The stock traded as high as $77.29 and last traded at $77.12. 2,746,436 shares changed hands during trading, a decline of 49% from the average session volume of 5,364,972 shares. The stock had previously closed at $74.79.

Wall Street Analyst Weigh In

Several brokerages recently commented on NVO. Kepler Capital Markets raised shares of Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Morgan Stanley began coverage on shares of Novo Nordisk A/S in a research note on Wednesday, February 12th. They set an “equal weight” rating for the company. StockNews.com upgraded shares of Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Novo Nordisk A/S currently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Up 1.8 %

The firm has a market capitalization of $346.54 billion, a PE ratio of 23.47, a P/E/G ratio of 0.90 and a beta of 0.42. The firm’s 50 day moving average price is $83.95 and its two-hundred day moving average price is $103.24. 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 earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. As a group, research analysts forecast that Novo Nordisk A/S will post 3.84 EPS 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 paid a dividend of $0.7874 per share. This represents a yield of 1.2%. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s dividend payout ratio is 47.72%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NVO. Aigen Investment Management LP bought a new position in Novo Nordisk A/S during the 3rd quarter valued at $297,000. Aptus Capital Advisors LLC boosted its stake in Novo Nordisk A/S by 33.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,774 shares of the company’s stock valued at $449,000 after acquiring an additional 940 shares during the last quarter. MQS Management LLC bought a new position in Novo Nordisk A/S during the 3rd quarter valued at $363,000. Main Street Financial Solutions LLC boosted its stake in Novo Nordisk A/S by 11.5% during the 3rd quarter. Main Street Financial Solutions LLC now owns 3,681 shares of the company’s stock valued at $438,000 after acquiring an additional 381 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of Novo Nordisk A/S by 12.8% during the third quarter. Huntington National Bank now owns 18,209 shares of the company’s stock worth $2,168,000 after purchasing an additional 2,065 shares during the period. 11.54% of the stock is currently owned by institutional investors.

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.