Novo Nordisk A/S (NYSE:NVO) Shares Gap Up – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $77.87, but opened at $82.10. Novo Nordisk A/S shares last traded at $82.46, with a volume of 3,002,681 shares changing hands.

Analysts Set New Price Targets

Several brokerages have issued reports on NVO. BNP Paribas raised shares of Novo Nordisk A/S to a “strong-buy” rating in a research note on Monday, December 2nd. BMO Capital Markets lowered their price target on 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. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research note on Monday, January 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Wednesday, November 6th. Finally, Morgan Stanley started coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Stock Up 0.5 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The firm has a fifty day moving average price of $86.89 and a 200 day moving average price of $108.66. The firm has a market capitalization of $376.02 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 0.88 and a beta of 0.45.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.91 earnings per share (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%. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a $0.7874 dividend. This is an increase from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. The ex-dividend date is Monday, March 31st. This represents a dividend yield of 1.2%. Novo Nordisk A/S’s dividend payout ratio is presently 21.88%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVO. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the third quarter valued at approximately $28,000. Center for Financial Planning Inc. boosted its stake in 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 purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL boosted its stake in Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Novo Nordisk A/S during the 3rd quarter valued at $42,000. Finally, Transce3nd LLC acquired a new stake in shares of Novo Nordisk A/S during the 4th quarter valued at $33,000. Institutional investors and hedge funds own 11.54% of the company’s stock.

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.