Novo Nordisk A/S (NVO) Shares Gap Up After Dividend Announcement
Novo Nordisk A/S (NYSE:NVO) shares gapped up prior to trading on Thursday after the company announced a dividend. The stock had previously closed at $45.21, but opened at $44.57. Novo Nordisk A/S shares last traded at $44.06, with a volume of 1,202,701 shares traded.
The newly announced dividend which will be paid on Tuesday, August 29th. Shareholders of record on Monday, August 21st will be paid a dividend of $0.336 per share. The ex-dividend date of this dividend is Friday, August 18th. This is a positive change from Novo Nordisk A/S’s previous dividend of $0.33. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 35.84%.
A number of equities analysts have weighed in on the company. BidaskClub lowered Novo Nordisk A/S from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Finally, TheStreet upgraded Novo Nordisk A/S from a “c+” rating to a “b-” rating in a research note on Tuesday, May 2nd. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.00.
The firm has a market capitalization of $110.11 billion, a PE ratio of 18.1490 and a beta of 0.63. The firm’s 50-day moving average is $42.68 and its 200 day moving average is $38.69.
A number of large investors have recently made changes to their positions in NVO. Alta Capital Management LLC increased its stake in shares of Novo Nordisk A/S by 11.1% in the first quarter. Alta Capital Management LLC now owns 922,362 shares of the company’s stock worth $31,618,000 after buying an additional 92,509 shares during the last quarter. Reliance Trust Co. of Delaware boosted its position in shares of Novo Nordisk A/S by 42.3% in the first quarter. Reliance Trust Co. of Delaware now owns 22,977 shares of the company’s stock worth $788,000 after buying an additional 6,829 shares during the period. Howland Capital Management LLC bought a new position in shares of Novo Nordisk A/S during the first quarter worth about $266,000. Cim LLC boosted its position in shares of Novo Nordisk A/S by 0.5% in the first quarter. Cim LLC now owns 196,121 shares of the company’s stock worth $6,723,000 after buying an additional 1,045 shares during the period. Finally, Fox Run Management L.L.C. bought a new position in shares of Novo Nordisk A/S during the first quarter worth about $449,000. Hedge funds and other institutional investors own 6.40% of the company’s stock.
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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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