Novo Nordisk A/S (NYSE:NVO) Trading Up 0.4% – Time to Buy?

Novo Nordisk A/S (NYSE:NVO)’s stock price was up 0.4% on Thursday . The stock traded as high as $90.19 and last traded at $89.87. Approximately 2,446,901 shares traded hands during trading, a decline of 73% from the average daily volume of 9,114,777 shares. The stock had previously closed at $89.55.

Analysts Set New Price Targets

NVO has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Sunday, December 29th. UBS Group raised shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Morgan Stanley started coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They set an “equal weight” rating on the stock. Finally, BMO Capital Markets reduced their target price on shares of Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $145.25.

Novo Nordisk A/S Stock Performance

The firm’s 50-day moving average price is $84.99 and its 200-day moving average price is $107.30. The stock has a market cap of $400.51 billion, a P/E ratio of 27.13, a PEG ratio of 0.90 and a beta of 0.45. 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 (NYSE:NVO) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. Sell-side analysts expect that Novo Nordisk A/S will post 3.84 earnings per share for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.7874 per share. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is 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 payout ratio is currently 47.72%.

Institutional Trading of Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the stock. Center for Financial Planning Inc. boosted its holdings in Novo Nordisk A/S by 72.4% in the fourth quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock valued at $25,000 after purchasing an additional 123 shares during the last quarter. Strategic Investment Solutions Inc. IL boosted its stake 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 worth $27,000 after buying an additional 300 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Novo Nordisk A/S in the third quarter valued at about $28,000. Transce3nd LLC purchased a new stake in Novo Nordisk A/S in the 4th quarter valued at about $33,000. Finally, Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Novo Nordisk A/S in the fourth quarter valued at approximately $39,000. Hedge funds and other 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.