Novo Nordisk A/S (NYSE:NVO) Shares Up 3.1% - What's Next?

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price was up 3.1% on Thursday . The stock traded as high as $77.29 and last traded at $77.12. Approximately 2,746,436 shares changed hands during mid-day trading, a decline of 49% from the average daily volume of 5,364,972 shares. The stock had previously closed at $74.79.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BNP Paribas raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday. StockNews.com upgraded Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Finally, UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Three 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. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $145.25.

Novo Nordisk A/S Stock Up 0.9 %

The company has a 50 day moving average price of $84.15 and a 200-day moving average price of $103.64. The stock has a market capitalization of $343.60 billion, a PE ratio of 23.27, a PEG ratio of 0.90 and a beta of 0.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

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Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates 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, 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 firm also recently announced 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 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. This represents a dividend yield of 1.2%. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 47.72%.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its position in Novo Nordisk A/S by 8.1% during the 4th quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after purchasing an additional 1,165,955 shares during the last quarter. GQG Partners LLC lifted its stake in shares of Novo Nordisk A/S by 74.7% in the fourth quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock worth $1,117,790,000 after buying an additional 5,556,460 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Novo Nordisk A/S by 34.2% during the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock valued at $995,397,000 after buying an additional 2,947,771 shares during the last quarter. Folketrygdfondet grew its holdings in shares of Novo Nordisk A/S by 0.5% during the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock valued at $765,917,000 after buying an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Novo Nordisk A/S by 1.5% during the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after acquiring an additional 123,681 shares in the last quarter. 11.54% of the stock is currently owned by 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.