Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) traded down 0.2% during trading on Friday . The stock traded as low as $69.63 and last traded at $70.00. 1,821,407 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 5,468,364 shares. The stock had previously closed at $70.16.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on NVO. Sanford C. Bernstein raised Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. UBS Group upgraded Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Morgan Stanley started coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. StockNews.com cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research report on Friday, March 21st. Finally, BNP Paribas raised shares of Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $145.25.
View Our Latest Analysis on NVO
Novo Nordisk A/S Stock Performance
The company has a market capitalization of $312.24 billion, a PE ratio of 21.15, a P/E/G ratio of 0.90 and a beta of 0.42. The stock's 50-day simple moving average is $82.33 and its 200 day simple moving average is $98.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.91 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 expect 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 declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a $0.7874 dividend. 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 is Monday, March 31st. Novo Nordisk A/S's dividend payout ratio is 47.72%.
Institutional Trading of Novo Nordisk A/S
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in Novo Nordisk A/S by 8.1% in the fourth quarter. Bank of America Corp DE now owns 15,492,384 shares of the company's stock valued at $1,332,655,000 after acquiring an additional 1,165,955 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 74.7% in the 4th quarter. GQG Partners LLC now owns 12,994,533 shares of the company's stock valued at $1,117,790,000 after purchasing an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Novo Nordisk A/S by 34.2% in the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock valued at $995,397,000 after purchasing an additional 2,947,771 shares during the period. Folketrygdfondet grew its stake in Novo Nordisk A/S by 0.5% during the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock worth $765,917,000 after buying an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in 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 worth $715,084,000 after buying an additional 123,681 shares during the period. Institutional investors and hedge funds own 11.54% of the company's stock.
About Novo Nordisk A/S
(
Get Free Report)
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.
Further Reading
Before you consider Novo Nordisk A/S, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Novo Nordisk A/S wasn't on the list.
While Novo Nordisk A/S currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
