Novo Nordisk A/S (NYSE:NVO) was up 8.3% during mid-day trading on Wednesday after the company announced a dividend. The company traded as high as $44.96 and last traded at $44.57, with a volume of 3,637,672 shares changing hands. The stock had previously closed at $41.15.
The newly announced dividend which will be paid on Tuesday, August 29th. Investors of record on Monday, August 21st will be given a dividend of $0.336 per share. This is an increase from Novo Nordisk A/S’s previous annual dividend of $0.33. The ex-dividend date is Friday, August 18th. This represents a yield of 1.07%. Novo Nordisk A/S’s dividend payout ratio is 35.84%.
Several research analysts recently issued reports on NVO shares. Zacks Investment Research downgraded shares of Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research report on Wednesday, April 19th. TheStreet raised Novo Nordisk A/S from a “c+” rating to a “b-” rating in a report on Tuesday, May 2nd. Finally, BidaskClub cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Novo Nordisk A/S currently has an average rating of “Hold” and a consensus price target of $53.00.
The firm has a 50 day moving average of $42.69 and a 200 day moving average of $38.73. The stock has a market capitalization of $113.51 billion, a PE ratio of 18.71 and a beta of 0.63.
Several hedge funds have recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its position in shares of Novo Nordisk A/S by 155.6% in the first quarter. Proficio Capital Partners LLC now owns 2,472 shares of the company’s stock worth $103,000 after buying an additional 1,505 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Novo Nordisk A/S by 167.8% in the first quarter. Tower Research Capital LLC TRC now owns 3,061 shares of the company’s stock worth $105,000 after buying an additional 1,918 shares during the period. AlphaMark Advisors LLC increased its position in shares of Novo Nordisk A/S by 1.1% in the second quarter. AlphaMark Advisors LLC now owns 2,645 shares of the company’s stock worth $113,000 after buying an additional 30 shares during the period. Parallel Advisors LLC increased its position in shares of Novo Nordisk A/S by 120.3% in the first quarter. Parallel Advisors LLC now owns 2,844 shares of the company’s stock worth $117,000 after buying an additional 1,553 shares during the period. Finally, Advisory Services Network LLC bought a new position in shares of Novo Nordisk A/S during the first quarter worth about $127,000. 6.40% of the stock is currently owned by hedge funds and other institutional investors.
Novo Nordisk A/S Company Profile
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company’s diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs.
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