Novo Nordisk A/S (NYSE:NVO) Stock Price Up 5% – Here’s What Happened

Novo Nordisk A/S (NYSE:NVO)’s share price shot up 5% on Friday . The company traded as high as $88.48 and last traded at $87.94. 4,985,417 shares traded hands during trading, a decline of 44% from the average session volume of 8,943,222 shares. The stock had previously closed at $83.74.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. UBS Group upgraded shares of Novo Nordisk A/S from a “sell” rating to a “buy” rating in a report on Wednesday, January 8th. Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $156.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a research note on Sunday, December 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.25.

Novo Nordisk A/S Price Performance

The firm has a 50 day moving average price of $86.01 and a 200 day moving average price of $108.07. The stock has a market cap of $395.19 billion, a P/E ratio of 26.77, a P/E/G ratio of 0.90 and a beta of 0.45. The company has a quick ratio of 0.55, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. Novo Nordisk A/S had a net margin of 34.81% and a return on equity of 84.68%. On average, analysts forecast that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

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

Hedge Funds Weigh In On Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the business. Center for Financial Planning Inc. lifted its holdings in Novo Nordisk A/S by 72.4% in the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after purchasing an additional 123 shares in the last quarter. Strategic Investment Solutions Inc. IL lifted its holdings in shares of Novo Nordisk A/S by 2,727.3% in 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 in the last quarter. Daiwa Securities Group Inc. bought a new position in shares of Novo Nordisk A/S during the third quarter worth $28,000. Transce3nd LLC purchased a new position in Novo Nordisk A/S during the fourth quarter valued at $33,000. Finally, Kelly Lawrence W & Associates Inc. CA bought a new stake in Novo Nordisk A/S in the 4th quarter valued at $39,000. Institutional investors 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.