Novo Nordisk A/S (NYSE:NVO) Shares Up 1.3%

Novo Nordisk A/S (NYSE:NVO)’s stock price shot up 1.3% during trading on Wednesday . The stock traded as high as $133.41 and last traded at $131.48. 617,962 shares changed hands during trading, a decline of 86% from the average session volume of 4,275,802 shares. The stock had previously closed at $129.78.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVO. StockNews.com cut Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 target price on the stock. BMO Capital Markets cut their target price on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Argus boosted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 10th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

The stock has a market capitalization of $613.36 billion, a P/E ratio of 47.13, a PEG ratio of 1.48 and a beta of 0.42. The stock’s fifty day moving average is $134.14 and its 200-day moving average is $132.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last issued 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 return on equity of 87.43% and a net margin of 34.86%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. On average, equities analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a dividend of $0.5126 per share. 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 24.83%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new stake in Novo Nordisk A/S during the second quarter valued at about $25,000. Gilliland Jeter Wealth Management LLC raised its position in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S during the second quarter valued at about $25,000. First PREMIER Bank acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at about $25,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Novo Nordisk A/S during the first quarter valued at about $26,000. 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.