Novo Nordisk A/S (NYSE:NVO) Trading 0.1% Higher – Should You Buy?

Novo Nordisk A/S (NYSE:NVO)’s share price was up 0.1% during trading on Tuesday . The company traded as high as $113.27 and last traded at $112.52. Approximately 2,819,020 shares were traded during trading, a decline of 34% from the average daily volume of 4,284,642 shares. The stock had previously closed at $112.36.

Wall Street Analysts Forecast Growth

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

Novo Nordisk A/S Stock Down 1.1 %

The business has a fifty day moving average of $125.25 and a 200 day moving average of $131.06. 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 stock has a market capitalization of $502.47 billion, a price-to-earnings ratio of 38.04, a PEG ratio of 1.48 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 (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 for the quarter, compared to analyst estimates of $9.91 billion. As a group, equities analysts predict that Novo Nordisk A/S will post 3.01 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 paid 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 24.66%.

Institutional Investors Weigh In On Novo Nordisk A/S

Large investors have recently added to or reduced their stakes in the business. GQG Partners LLC raised its holdings in Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock valued at $215,942,000 after purchasing an additional 1,796,635 shares in the last quarter. DSM Capital Partners LLC grew its stake in shares of Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock worth $227,516,000 after purchasing an additional 1,593,303 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after buying an additional 1,155,313 shares during the last quarter. Finally, Mediolanum International Funds Ltd acquired a new stake in Novo Nordisk A/S in the third quarter valued at $98,765,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Company Profile

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.