Novo Nordisk A/S (NYSE:NVO) Trading 2.6% Higher - What's Next?

Key Points

• Novo Nordisk A/S shares rose by 2.6%, reaching a last traded price of $55.78, despite a 36% decline in trading volume compared to the average session volume.
• Analyst ratings for Novo Nordisk reflect 2 Strong Buy, 7 Buy, 10 Hold, and 1 Sell, with a consensus rating of "Moderate Buy" and a target price of $76.00.
• The company recently reported quarterly earnings per share of $0.97, exceeding estimates, with revenues of $11.69 billion, while also disclosing a $0.4119 dividend yield of 240.0% paid to shareholders.

Novo Nordisk A/S (NYSE:NVO - Get Free Report)'s stock price traded up 2.6% during trading on Monday . The company traded as high as $56.23 and last traded at $55.78. 7,780,148 shares were traded during mid-day trading, a decline of 36% from the average session volume of 12,078,828 shares. The stock had previously closed at $54.37.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. BNP Paribas raised shares of Novo Nordisk A/S from an "underperform" rating to a "neutral" rating in a research note on Wednesday, August 13th. Sanford C. Bernstein raised shares of Novo Nordisk A/S from a "market perform" rating to an "outperform" rating in a research note on Tuesday, September 9th. Dbs Bank raised shares of Novo Nordisk A/S from a "strong sell" rating to a "hold" rating in a research note on Friday, August 22nd. Berenberg Bank raised shares of Novo Nordisk A/S from a "hold" rating to a "buy" rating in a research note on Wednesday, September 17th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Novo Nordisk A/S in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.00.

Novo Nordisk A/S Price Performance

The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The business's 50-day moving average is $56.24 and its two-hundred day moving average is $62.69. The company has a market capitalization of $249.04 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 2.50 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. As a group, analysts predict that Novo Nordisk A/S will post 3.84 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th were given a $0.4119 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S's payout ratio is currently 22.53%.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently added to or reduced their stakes in the stock. Jennison Associates LLC raised its position in Novo Nordisk A/S by 0.3% in the second quarter. Jennison Associates LLC now owns 18,885,343 shares of the company's stock worth $1,303,466,000 after acquiring an additional 63,341 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Novo Nordisk A/S by 1.5% in the second quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company's stock worth $867,998,000 after purchasing an additional 187,789 shares in the last quarter. Kingstone Capital Partners Texas LLC increased its stake in shares of Novo Nordisk A/S by 301,443.6% in the second quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company's stock worth $690,560,000 after purchasing an additional 10,001,898 shares in the last quarter. Folketrygdfondet increased its stake in shares of Novo Nordisk A/S by 6.9% in the first quarter. Folketrygdfondet now owns 9,521,912 shares of the company's stock worth $661,202,000 after purchasing an additional 617,974 shares in the last quarter. Finally, Sustainable Growth Advisers LP increased its stake in shares of Novo Nordisk A/S by 11.7% in the second quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company's stock worth $427,416,000 after purchasing an additional 649,390 shares in the last quarter. 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.

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