Novo Nordisk A/S (NYSE:NVO) Trading 0.3% Higher - Here's Why

Shares of Novo Nordisk A/S (NYSE:NVO - Get Free Report) were up 0.3% during trading on Monday . The company traded as high as $69.76 and last traded at $69.42. Approximately 2,734,567 shares changed hands during trading, a decline of 56% from the average daily volume of 6,205,978 shares. The stock had previously closed at $69.23.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BNP Paribas began coverage on shares of Novo Nordisk A/S in a research report on Tuesday, April 15th. They issued an "underperform" rating on the stock. UBS Group raised shares of Novo Nordisk A/S from a "sell" rating to a "buy" rating in a research note on Wednesday, January 8th. BMO Capital Markets restated a "market perform" rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a research note on Thursday, April 17th. Stifel Nicolaus cut Novo Nordisk A/S from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Hsbc Global Res raised Novo Nordisk A/S to a "strong-buy" rating in a research note on Monday, April 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Novo Nordisk A/S presently has an average rating of "Moderate Buy" and a consensus target price of $135.00.

Novo Nordisk A/S Stock Up 0.1 %

The company has a 50 day moving average price of $71.47 and a two-hundred day moving average price of $87.57. The stock has a market cap of $310.89 billion, a PE ratio of 21.09, a PEG ratio of 0.90 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 0.55.

Novo Nordisk A/S Increases Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Center for Financial Planning Inc. lifted its holdings in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company's stock valued at $25,000 after buying an additional 123 shares during the period. Strategic Investment Solutions Inc. IL increased its position in Novo Nordisk A/S by 2,727.3% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company's stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company's stock valued at $27,000 after acquiring an additional 255 shares during the period. North Capital Inc. purchased a new position in Novo Nordisk A/S in the first quarter worth about $27,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at about $29,000. 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.

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