Novo Nordisk A/S (NYSE:NVO) Trading Up 1.9%

Novo Nordisk A/S (NYSE:NVO) rose 1.9% on Thursday . The company traded as high as $138.49 and last traded at $137.46. Approximately 1,026,012 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 4,430,671 shares. The stock had previously closed at $134.96.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research note on Monday. Argus lifted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group began coverage on shares of Novo Nordisk A/S in a research note on Thursday, May 30th. They set a “buy” rating and a $156.00 price target on the stock. BMO Capital Markets reduced their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Finally, StockNews.com downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $145.17.

Novo Nordisk A/S Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 0.70 and a quick ratio of 0.50. The firm has a market capitalization of $613.80 billion, a P/E ratio of 47.40, a PEG ratio of 1.33 and a beta of 0.41. The company’s 50 day moving average price is $136.45 and its 200 day moving average price is $131.30.

Novo Nordisk A/S Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, August 26th. Investors of record on Friday, August 16th will be paid a dividend of $0.5126 per share. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of institutional investors have recently made changes to their positions in the stock. 1620 Investment Advisors Inc. acquired a new position in shares of Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of Novo Nordisk A/S by 200.0% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares during the period. First PREMIER Bank acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $25,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Novo Nordisk A/S during the first quarter worth $26,000. Finally, Orion Capital Management LLC acquired a new position in Novo Nordisk A/S in the 1st quarter worth $26,000. 11.54% of the stock is 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.