Novo Nordisk A/S (NYSE:NVO) to Issue Dividend Increase – $0.66 Per Share

Novo Nordisk A/S (NYSE:NVOGet Free Report) declared a Semi-Annual dividend on Wednesday, January 31st, Zacks reports. Shareholders of record on Monday, March 25th will be given a dividend of 0.664 per share on Tuesday, April 2nd. This represents a yield of 0.9%. The ex-dividend date is Friday, March 22nd. This is an increase from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22.

Novo Nordisk A/S has raised its dividend by an average of 16.5% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Novo Nordisk A/S has a dividend payout ratio of 45.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Novo Nordisk A/S to earn $4.15 per share next year, which means the company should continue to be able to cover its $1.86 annual dividend with an expected future payout ratio of 44.8%.

Novo Nordisk A/S Trading Down 0.8 %

NYSE NVO opened at $130.36 on Thursday. The firm’s 50 day moving average price is $119.11 and its two-hundred day moving average price is $101.35. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.64 and a current ratio of 0.82. Novo Nordisk A/S has a twelve month low of $72.39 and a twelve month high of $138.28. The stock has a market cap of $584.99 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 2.16 and a beta of 0.41.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. Novo Nordisk A/S had a net margin of 36.03% and a return on equity of 90.36%. The business had revenue of $9.51 billion for the quarter, compared to analysts’ expectations of $9.14 billion. Equities analysts anticipate that Novo Nordisk A/S will post 3.36 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group started coverage on shares of Novo Nordisk A/S in a report on Tuesday, January 16th. They set a “neutral” rating on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a research note on Wednesday. Morgan Stanley assumed coverage on shares of Novo Nordisk A/S in a research report on Tuesday, January 23rd. They set an “overweight” rating and a $120.00 target price for the company. Finally, TD Cowen boosted their target price on shares of Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.25.

Get Our Latest Analysis on NVO

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Fayez Sarofim & Co increased its stake in Novo Nordisk A/S by 1.8% in the fourth quarter. Fayez Sarofim & Co now owns 11,814,051 shares of the company’s stock valued at $1,222,164,000 after acquiring an additional 210,087 shares during the period. Polen Capital Management LLC grew its stake in Novo Nordisk A/S by 0.7% during the fourth quarter. Polen Capital Management LLC now owns 7,958,444 shares of the company’s stock worth $823,301,000 after buying an additional 52,189 shares during the last quarter. State Farm Mutual Automobile Insurance Co. grew its stake in Novo Nordisk A/S by 100.0% during the third quarter. State Farm Mutual Automobile Insurance Co. now owns 6,755,654 shares of the company’s stock worth $614,359,000 after buying an additional 3,377,827 shares during the last quarter. Morgan Stanley lifted its position in shares of Novo Nordisk A/S by 39.4% during the fourth quarter. Morgan Stanley now owns 5,212,398 shares of the company’s stock worth $705,446,000 after purchasing an additional 1,472,550 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of Novo Nordisk A/S by 45.4% during the first quarter. BlackRock Inc. now owns 5,035,879 shares of the company’s stock worth $559,235,000 after purchasing an additional 1,571,747 shares in the last quarter. Institutional investors and hedge funds own 6.41% of the company’s stock.

Novo Nordisk A/S Company Profile

(Get Free Report)

Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease.

See Also

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

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