Novo Nordisk A/S (NYSE:NVO) announced that its Board of Directors has authorized a share buyback plan, which permits the company to repurchase outstanding shares on Thursday, February 2nd, EventVestor reports. This repurchase authorization permits the company to repurchase up to 18.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
NVO has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Novo Nordisk A/S from a “sell” rating to a “hold” rating in a research note on Tuesday, January 31st. Barclays PLC started coverage on shares of Novo Nordisk A/S in a research note on Tuesday, March 7th. They set an “underweight” rating on the stock. JPMorgan Chase & Co. downgraded shares of Novo Nordisk A/S from a “neutral” rating to an “underweight” rating in a research report on Tuesday, January 3rd. Finally, HSBC Holdings plc downgraded shares of Novo Nordisk A/S from a “hold” rating to a “reduce” rating in a research report on Friday, April 7th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Novo Nordisk A/S currently has an average rating of “Hold” and a consensus price target of $60.00.
Shares of Novo Nordisk A/S (NYSE:NVO) traded up 0.25% during trading on Thursday, reaching $36.40. 1,310,277 shares of the company’s stock were exchanged. Novo Nordisk A/S has a 52 week low of $30.89 and a 52 week high of $57.44. The firm has a market capitalization of $91.16 billion, a PE ratio of 17.00 and a beta of 0.83. The company’s 50-day moving average price is $34.57 and its 200 day moving average price is $35.56.
The business also recently disclosed an annual dividend, which was paid on Tuesday, April 4th. Stockholders of record on Monday, March 27th were paid a dividend of $0.6634 per share. This represents a dividend yield of 1.99%. The ex-dividend date was Thursday, March 23rd. Novo Nordisk A/S’s dividend payout ratio is currently 46.19%.
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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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