Nordson (NASDAQ:NDSN) Upgraded to Buy by StockNews.com

Nordson (NASDAQ:NDSN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

NDSN has been the subject of a number of other reports. Wells Fargo & Company increased their target price on shares of Nordson from $290.00 to $315.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. KeyCorp restated a “sector weight” rating on shares of Nordson in a report on Monday, February 26th. Finally, DA Davidson lifted their target price on shares of Nordson from $290.00 to $315.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Nordson currently has an average rating of “Moderate Buy” and a consensus price target of $278.00.

Nordson Stock Performance

Shares of NASDAQ:NDSN traded up $0.80 on Friday, hitting $274.54. 232,207 shares of the company were exchanged, compared to its average volume of 223,632. The stock’s 50 day moving average price is $263.13 and its 200 day moving average price is $244.57. Nordson has a 1-year low of $208.77 and a 1-year high of $276.09. The company has a current ratio of 2.19, a quick ratio of 1.37 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $15.70 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 2.06 and a beta of 1.00.

Nordson (NASDAQ:NDSN) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.03 by $0.18. The business had revenue of $633.20 million for the quarter, compared to analyst estimates of $630.77 million. Nordson had a return on equity of 20.59% and a net margin of 18.59%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.95 EPS. Sell-side analysts predict that Nordson will post 10.22 EPS for the current year.

Insider Buying and Selling at Nordson

In other news, EVP Srinivas Subramanian sold 2,100 shares of Nordson stock in a transaction on Friday, January 12th. The stock was sold at an average price of $250.79, for a total transaction of $526,659.00. Following the completion of the transaction, the executive vice president now owns 4,565 shares of the company’s stock, valued at approximately $1,144,856.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Nordson news, EVP Srinivas Subramanian sold 2,100 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $250.79, for a total value of $526,659.00. Following the transaction, the executive vice president now directly owns 4,565 shares in the company, valued at approximately $1,144,856.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Stephen Lovass sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $258.68, for a total transaction of $517,360.00. Following the transaction, the executive vice president now directly owns 7,379 shares in the company, valued at approximately $1,908,799.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,313 shares of company stock valued at $1,347,427. 0.86% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nordson

Large investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. increased its holdings in shares of Nordson by 208.3% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 111 shares of the industrial products company’s stock worth $25,000 after buying an additional 75 shares during the last quarter. Tobam raised its holdings in Nordson by 2,275.0% in the fourth quarter. Tobam now owns 95 shares of the industrial products company’s stock valued at $25,000 after buying an additional 91 shares during the period. FNY Investment Advisers LLC acquired a new position in Nordson during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC purchased a new stake in Nordson during the fourth quarter worth approximately $27,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Nordson in the fourth quarter worth $28,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

Nordson Company Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.