Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price dropped 0.8% during mid-day trading on Tuesday . The stock traded as low as $63.12 and last traded at $63.11. Approximately 2,774,136 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 5,669,365 shares. The stock had previously closed at $63.64.
Analyst Ratings Changes
Several equities research analysts have recently commented on NVO shares. BMO Capital Markets reduced their price target on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. StockNews.com upgraded shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Monday, April 7th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research report on Monday, January 6th. UBS Group raised Novo Nordisk A/S from a "sell" rating to a "buy" rating in a report on Wednesday, January 8th. Finally, Morgan Stanley initiated coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating for the company. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $145.25.
View Our Latest Stock Report on Novo Nordisk A/S
Novo Nordisk A/S Price Performance
The stock has a 50 day simple moving average of $77.87 and a 200-day simple moving average of $93.55. The firm has a market cap of $290.59 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62.
Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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%. Equities 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 announced a semi-annual dividend, which was paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st were issued a $0.7874 dividend. This represents a dividend yield of 1.2%. The ex-dividend date was Monday, March 31st. This is an increase from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's payout ratio is 49.54%.
Institutional Trading of Novo Nordisk A/S
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its holdings in shares of 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 worth $1,332,655,000 after purchasing an additional 1,165,955 shares during the last quarter. GQG Partners LLC increased its stake in 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 worth $1,117,790,000 after acquiring an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in shares of Novo Nordisk A/S by 34.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after acquiring an additional 2,947,771 shares in the last quarter. Folketrygdfondet boosted its position in shares of Novo Nordisk A/S by 0.5% during the 4th quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock valued at $765,917,000 after acquiring an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Novo Nordisk A/S by 1.5% in the fourth quarter. Renaissance Technologies LLC now owns 8,312,996 shares of the company's stock valued at $715,084,000 after purchasing 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
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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.
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