Novo Nordisk A/S (NYSE:NVO) Trading 3.7% Higher - Here's Why

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares traded up 3.7% during trading on Friday . The company traded as high as $64.72 and last traded at $63.46. 4,201,911 shares changed hands during trading, a decline of 27% from the average session volume of 5,763,062 shares. The stock had previously closed at $61.21.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. Kepler Capital Markets raised Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Thursday, March 13th. Morgan Stanley assumed coverage on Novo Nordisk A/S in a report on Wednesday, February 12th. They set an "equal weight" rating on the stock. UBS Group upgraded shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research report on Wednesday, January 8th. 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 report on Monday, December 23rd. Finally, Stifel Nicolaus downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $145.25.

Novo Nordisk A/S Stock Down 2.4 %

The firm has a market capitalization of $289.27 billion, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 0.90 and a beta of 0.61. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55. The stock has a fifty day moving average of $77.48 and a 200 day moving average of $92.95.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last posted 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 net margin of 34.81% and a return on equity of 84.68%. On average, research analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Novo Nordisk A/S by 8.1% during 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 acquiring an additional 1,165,955 shares in the last quarter. GQG Partners LLC grew its holdings in Novo Nordisk A/S by 74.7% during the 4th 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 in the last quarter. Loomis Sayles & Co. L P increased its position 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 period. Folketrygdfondet lifted its holdings in shares of Novo Nordisk A/S by 0.5% in the fourth quarter. Folketrygdfondet now owns 8,903,938 shares of the company's stock worth $765,917,000 after buying an additional 40,313 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position 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 acquiring an additional 123,681 shares during the period. 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.