Novo Nordisk A/S (NYSE:NVO) Trading Up 1.2% - Here's What Happened

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price rose 1.2% during mid-day trading on Wednesday . The company traded as high as $83.41 and last traded at $83.31. Approximately 1,859,266 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 9,080,144 shares. The stock had previously closed at $82.33.

Analyst Upgrades and Downgrades

NVO has been the subject of a number of recent analyst reports. BMO Capital Markets reduced their price objective on Novo Nordisk A/S from $156.00 to $105.00 and set an "outperform" rating for the company in a research note on Monday, December 23rd. Morgan Stanley initiated coverage on Novo Nordisk A/S in a research note on Wednesday, February 12th. They issued an "equal weight" rating for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. StockNews.com downgraded Novo Nordisk A/S from a "strong-buy" rating to a "buy" rating in a research note on Sunday, December 29th. Finally, BNP Paribas raised Novo Nordisk A/S to a "strong-buy" rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of "Moderate Buy" and a consensus price target of $145.25.

Novo Nordisk A/S Price Performance

The company has a current ratio of 0.74, a quick ratio of 0.55 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $86.01 and a 200 day moving average price of $108.22. The stock has a market cap of $395.19 billion, a PE ratio of 26.77, a PEG ratio of 0.90 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (EPS) 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, research 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 business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, April 8th. Investors of record on Monday, March 31st will be issued a dividend of $0.7874 per share. This is a boost 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 yield of 1.2%. Novo Nordisk A/S's dividend payout ratio is 21.88%.

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently added to or reduced their stakes in the stock. 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 acquiring an additional 1,796,635 shares in the last quarter. YHB Investment Advisors Inc. raised its holdings in shares of Novo Nordisk A/S by 11.3% in the 3rd quarter. YHB Investment Advisors Inc. now owns 3,284 shares of the company's stock valued at $391,000 after acquiring an additional 334 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Novo Nordisk A/S by 4.2% in the 3rd quarter. Brighton Jones LLC now owns 15,176 shares of the company's stock valued at $1,807,000 after acquiring an additional 606 shares in the last quarter. Great Lakes Retirement Inc. raised its holdings in shares of Novo Nordisk A/S by 4.9% in the 3rd quarter. Great Lakes Retirement Inc. now owns 8,296 shares of the company's stock valued at $988,000 after acquiring an additional 384 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of Novo Nordisk A/S by 105.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 18,041 shares of the company's stock valued at $2,148,000 after acquiring an additional 9,272 shares in the last quarter. Hedge funds and other institutional investors own 11.54% of the company's stock.

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.