Novo Nordisk A/S (NYSE:NVO) Shares Up 1.6% - Still a Buy?

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price was up 1.6% during trading on Thursday . The company traded as high as $62.49 and last traded at $62.26. Approximately 2,550,185 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 6,049,616 shares. The stock had previously closed at $61.30.

Wall Street Analyst Weigh In

NVO has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a "market perform" rating and set a $64.00 price objective (down previously from $105.00) on shares of Novo Nordisk A/S in a research report on Thursday, April 17th. BNP Paribas started coverage on Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an "underperform" rating on the stock. Guggenheim lowered Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 17th. Kepler Capital Markets upgraded Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from an "underperform" rating to a "market perform" rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $135.00.

Novo Nordisk A/S Stock Performance

The company has a market capitalization of $278.54 billion, a PE ratio of 18.87, a PEG ratio of 0.90 and a beta of 0.61. The firm has a 50-day moving average of $73.62 and a two-hundred day moving average of $89.80. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

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 for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. Research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, April 8th. Investors of record on Monday, March 31st were paid a $0.7874 dividend. The ex-dividend date was Monday, March 31st. This represents a yield of 1.2%. This is a boost from Novo Nordisk A/S's previous semi-annual dividend of $0.51. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 49.54%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its stake in Novo Nordisk A/S by 8.1% in 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 raised its position 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 valued at $1,117,790,000 after buying an additional 5,556,460 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Novo Nordisk A/S by 34.2% in the fourth quarter. Loomis Sayles & Co. L P now owns 11,571,686 shares of the company's stock worth $995,397,000 after buying an additional 2,947,771 shares in the last quarter. Folketrygdfondet boosted its position in Novo Nordisk A/S by 0.5% during the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock worth $765,917,000 after acquiring an additional 40,313 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Novo Nordisk A/S by 1.5% during the 4th 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 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.