Novo Nordisk A/S (NYSE:NVO) Declares $0.58 Semi-annual Dividend

Novo Nordisk A/S (NYSE:NVOGet Rating) announced a semi-annual dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Monday, August 15th will be given a dividend of 0.5836 per share on Tuesday, August 23rd. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, August 12th.

Novo Nordisk A/S has a payout ratio of 49.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Novo Nordisk A/S to earn $4.14 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 49.3%.

Novo Nordisk A/S Stock Down 1.2 %

Shares of NVO opened at $103.20 on Friday. The company has a market capitalization of $233.54 billion, a PE ratio of 30.81, a PEG ratio of 1.95 and a beta of 0.44. The company has a current ratio of 0.94, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock’s 50-day moving average price is $110.92 and its two-hundred day moving average price is $108.19. Novo Nordisk A/S has a 12 month low of $91.51 and a 12 month high of $122.16.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently modified their holdings of the business. Neuberger Berman Group LLC grew its holdings in shares of Novo Nordisk A/S by 275.5% in the first quarter. Neuberger Berman Group LLC now owns 17,312 shares of the company’s stock valued at $1,923,000 after acquiring an additional 12,702 shares in the last quarter. Capital World Investors grew its holdings in shares of Novo Nordisk A/S by 6.6% in the first quarter. Capital World Investors now owns 35,961 shares of the company’s stock valued at $4,047,000 after acquiring an additional 2,239 shares in the last quarter. Heirloom Wealth Management bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $3,407,000. Avalon Investment & Advisory grew its holdings in shares of Novo Nordisk A/S by 68.2% in the first quarter. Avalon Investment & Advisory now owns 113,979 shares of the company’s stock valued at $12,657,000 after acquiring an additional 46,233 shares in the last quarter. Finally, Kidder Stephen W bought a new position in shares of Novo Nordisk A/S in the first quarter valued at approximately $244,000.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NVO. UBS Group downgraded Novo Nordisk A/S from a “neutral” rating to a “sell” rating in a research note on Tuesday, June 28th. Cowen raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Monday, April 25th. Berenberg Bank boosted their target price on Novo Nordisk A/S from 585.00 to 780.00 and gave the company a “hold” rating in a research report on Tuesday, April 19th. Morgan Stanley raised Novo Nordisk A/S from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 15th. Finally, Exane BNP Paribas raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a 750.00 target price for the company in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $682.43.

About Novo Nordisk A/S

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Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases.

See Also

Dividend History for Novo Nordisk A/S (NYSE:NVO)

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