Novo Nordisk A/S (NVO) Shares Gap Up to $48.52

Novo Nordisk A/S (NYSE:NVO) shares gapped up prior to trading on Friday . The stock had previously closed at $47.46, but opened at $48.52. Novo Nordisk A/S shares last traded at $50.07, with a volume of 3543488 shares changing hands.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Friday, January 26th. JPMorgan Chase & Co. upgraded Novo Nordisk A/S from an “underweight” rating to a “neutral” rating in a research note on Friday, December 29th. Deutsche Bank reiterated a “buy” rating on shares of Novo Nordisk A/S in a research note on Monday, January 8th. Bank of America upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 6th. Finally, Morgan Stanley upgraded Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Novo Nordisk A/S currently has an average rating of “Hold” and a consensus target price of $64.00.

The company has a market cap of $100,860.00, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 3.23 and a beta of 0.57.

The business also recently announced a special dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Monday, March 26th will be paid a $0.8117 dividend. The ex-dividend date is Friday, March 23rd. This represents a dividend yield of 0.96%. Novo Nordisk A/S’s dividend payout ratio (DPR) is currently 32.41%.

Novo Nordisk A/S declared that its Board of Directors has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Several hedge funds have recently made changes to their positions in NVO. BB&T Corp lifted its holdings in shares of Novo Nordisk A/S by 14.5% in the 3rd quarter. BB&T Corp now owns 128,300 shares of the company’s stock valued at $6,177,000 after buying an additional 16,202 shares during the period. Cetera Advisor Networks LLC lifted its holdings in shares of Novo Nordisk A/S by 21.7% in the 3rd quarter. Cetera Advisor Networks LLC now owns 12,082 shares of the company’s stock valued at $583,000 after buying an additional 2,151 shares during the period. Flow Traders U.S. LLC lifted its holdings in shares of Novo Nordisk A/S by 183.5% in the 3rd quarter. Flow Traders U.S. LLC now owns 15,416 shares of the company’s stock valued at $742,000 after buying an additional 9,979 shares during the period. Foyston Gordon & Payne Inc lifted its holdings in shares of Novo Nordisk A/S by 49.7% in the 3rd quarter. Foyston Gordon & Payne Inc now owns 171,472 shares of the company’s stock valued at $8,256,000 after buying an additional 56,941 shares during the period. Finally, Global X MANAGEMENT CO LLC lifted its holdings in shares of Novo Nordisk A/S by 5.3% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 111,977 shares of the company’s stock valued at $5,392,000 after buying an additional 5,646 shares during the period. Institutional investors own 6.19% of the company’s stock.

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About Novo Nordisk A/S

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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