Novo Nordisk A/S (NYSE:NVO) Shares Up 1%

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares were up 1% during trading on Wednesday . The company traded as high as $127.61 and last traded at $126.68. Approximately 937,509 shares traded hands during trading, a decline of 78% from the average daily volume of 4,268,049 shares. The stock had previously closed at $125.44.

Analysts Set New Price Targets

NVO has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, September 16th. The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a "buy" rating and a $156.00 price target for the company. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, August 8th. StockNews.com raised shares of Novo Nordisk A/S from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, September 18th. Finally, Argus lifted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $145.17.

Novo Nordisk A/S Price Performance

The business's 50 day moving average price is $132.47 and its two-hundred day moving average price is $133.18. The stock has a market cap of $569.69 billion, a P/E ratio of 43.78, a price-to-earnings-growth ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion for the quarter, compared to analysts' expectations of $9.91 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 26th. Investors of record on Friday, August 16th were given a dividend of $0.5126 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S's dividend payout ratio (DPR) is currently 24.83%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. First PREMIER Bank purchased a new position in Novo Nordisk A/S in the first quarter worth about $25,000. 1620 Investment Advisors Inc. purchased a new position in Novo Nordisk A/S in the second quarter worth about $25,000. Strategic Investment Solutions Inc. IL purchased a new position in Novo Nordisk A/S in the second quarter worth about $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S in the first quarter worth about $26,000. Finally, Orion Capital Management LLC purchased a new position in Novo Nordisk A/S in the first quarter worth about $26,000. 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.