Novo Nordisk A/S (NYSE:NVO) Shares Up 3.1% – Here’s What Happened

Shares of Novo Nordisk A/S (NYSE:NVO) rose 3.1% during trading on Monday . The stock traded as high as $79.88 and last traded at $79.58. Approximately 1,699,065 shares changed hands during trading, a decline of 68% from the average daily volume of 5,385,242 shares. The stock had previously closed at $77.15.

Analysts Set New Price Targets

Several research analysts recently weighed in on NVO shares. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research note on Thursday. UBS Group raised Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research note on Wednesday, January 8th. Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Finally, BNP Paribas raised Novo Nordisk A/S to a “strong-buy” rating in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Trading Up 3.8 %

The company’s 50 day simple moving average is $83.95 and its two-hundred day simple moving average is $102.79. The company has a market capitalization of $359.53 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 0.90 and a beta of 0.42. 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 (EPS) for the quarter, beating 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%. As a group, research analysts anticipate 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 declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Shareholders of record on Monday, March 31st will be issued a $0.7874 dividend. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. This is a boost from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 47.72%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the stock. Norman Fields Gottscho Capital Management LLC increased its holdings in Novo Nordisk A/S by 45.3% in the 4th quarter. Norman Fields Gottscho Capital Management LLC now owns 63,732 shares of the company’s stock worth $5,482,000 after buying an additional 19,870 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Novo Nordisk A/S by 58.5% in the 4th quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $5,410,000 after acquiring an additional 23,223 shares during the last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 358.8% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 38,898 shares of the company’s stock worth $3,346,000 after acquiring an additional 30,420 shares during the period. Versant Capital Management Inc purchased a new position in shares of Novo Nordisk A/S during the fourth quarter worth $86,000. Finally, Talbot Financial LLC acquired a new position in Novo Nordisk A/S during the fourth quarter valued at $4,066,000. 11.54% of the stock is owned by hedge funds and other 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.