Novo Nordisk A/S (NYSE:NVO) Stock Price Down 0.2%

Novo Nordisk A/S (NYSE:NVO - Get Free Report) shares traded down 0.2% during trading on Thursday . The stock traded as low as $124.13 and last traded at $124.69. 940,029 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 4,989,729 shares. The stock had previously closed at $124.93.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They issued a "neutral" rating on the stock. Morgan Stanley started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 23rd. They set an "overweight" rating and a $120.00 price objective on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday, April 1st. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Novo Nordisk A/S presently has an average rating of "Moderate Buy" and an average target price of $126.25.

Novo Nordisk A/S Stock Performance

The firm has a market capitalization of $562.74 billion, a price-to-earnings ratio of 46.36, a price-to-earnings-growth ratio of 2.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. The firm's 50-day moving average price is $125.52 and its two-hundred day moving average price is $109.27.

Novo Nordisk A/S (NYSE:NVO - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. Sell-side analysts predict that Novo Nordisk A/S will post 3.32 earnings per share for the current year.

Novo Nordisk A/S Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th were given a $0.664 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This is a positive change from Novo Nordisk A/S's previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. Novo Nordisk A/S's payout ratio is 49.17%.

Hedge Funds Weigh In On Novo Nordisk A/S

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVO. Ballentine Partners LLC lifted its position in shares of Novo Nordisk A/S by 13.1% during the first quarter. Ballentine Partners LLC now owns 23,615 shares of the company's stock worth $3,032,000 after purchasing an additional 2,728 shares in the last quarter. Security Financial Services INC. lifted its position in shares of Novo Nordisk A/S by 29.2% during the first quarter. Security Financial Services INC. now owns 3,074 shares of the company's stock worth $395,000 after purchasing an additional 695 shares in the last quarter. Cooper Financial Group lifted its position in shares of Novo Nordisk A/S by 1.9% during the first quarter. Cooper Financial Group now owns 11,442 shares of the company's stock worth $1,469,000 after purchasing an additional 211 shares in the last quarter. Salem Investment Counselors Inc. lifted its position in shares of Novo Nordisk A/S by 528.4% during the first quarter. Salem Investment Counselors Inc. now owns 13,460 shares of the company's stock worth $1,737,000 after purchasing an additional 11,318 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Novo Nordisk A/S by 69.4% during the first quarter. International Assets Investment Management LLC now owns 13,420 shares of the company's stock worth $1,712,000 after purchasing an additional 5,496 shares in the last quarter. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.