Novo Nordisk A/S (NYSE:NVO) Stock Price Up 3.5% After Dividend Announcement

Key Points

• Novo Nordisk A/S shares rose 3.5% after the company announced a dividend of $0.4119, which will be paid on August 26th to shareholders of record on August 18th.
• Recent analyst ratings show a trend of downgrades, with HSBC Global Research lowering its rating from "strong-buy" to "hold," indicating a cautious outlook on the stock.
• The company's latest earnings report revealed an EPS of $0.97, slightly exceeding the expected $0.93, alongside a revenue of $11.69 billion.

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s share price was up 3.5% during trading on Friday following a dividend announcement from the company. The stock traded as high as $51.08 and last traded at $50.47. Approximately 10,457,970 shares traded hands during trading, a decline of 7% from the average daily volume of 11,245,971 shares. The stock had previously closed at $48.76.The newly announced dividend which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a $0.4119 dividend. The ex-dividend date is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's dividend payout ratio is presently 45.05%.

Analyst Ratings Changes

A number of equities research analysts have commented on NVO shares. Hsbc Global Res downgraded Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 31st. Dbs Bank downgraded shares of Novo Nordisk A/S to a "sell" rating in a research report on Friday, April 25th. Wall Street Zen downgraded Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Guggenheim cut shares of Novo Nordisk A/S from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 17th. Finally, UBS Group cut shares of Novo Nordisk A/S from a "buy" rating to a "neutral" rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $93.67.

Novo Nordisk A/S Stock Up 3.8%

The stock has a market cap of $226.05 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.37 and a beta of 0.63. The company has a current ratio of 0.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.70. The stock's 50-day moving average is $67.55 and its 200-day moving average is $71.81.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analysts' expectations of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 84.92%. As a group, research analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Institutional Trading of Novo Nordisk A/S

Hedge funds and other institutional investors have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL grew its position in Novo Nordisk A/S by 2,727.3% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Novo Nordisk A/S in the 4th quarter valued at $29,000. Transce3nd LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth $33,000. North Capital Inc. acquired a new position in Novo Nordisk A/S during the first quarter worth $27,000. Finally, Copeland Capital Management LLC raised its holdings in Novo Nordisk A/S by 184.8% during the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after buying an additional 255 shares in the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.