Novo Nordisk A/S (NYSE:NVO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Novo Nordisk A/S (NYSE:NVO) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $145.17.

Several analysts recently weighed in on NVO shares. BMO Capital Markets cut their price target on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Argus boosted their price target on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Cantor Fitzgerald restated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Monday. StockNews.com downgraded Novo Nordisk A/S from a “strong-buy” rating to a “buy” rating in a report on Monday, August 19th. Finally, The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a research note on Thursday, May 30th. They issued a “buy” rating and a $156.00 target price for the company.

Hedge Funds Weigh In On Novo Nordisk A/S

Several large investors have recently modified their holdings of NVO. GQG Partners LLC lifted its stake in shares of Novo Nordisk A/S by 654.6% in the first quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock worth $466,485,000 after buying an additional 3,151,584 shares in the last quarter. DSM Capital Partners LLC boosted its stake in Novo Nordisk A/S by 257,816.0% during the 2nd quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after purchasing an additional 1,593,303 shares during the last quarter. Capital International Investors increased its holdings in shares of Novo Nordisk A/S by 22.3% in the 4th quarter. Capital International Investors now owns 7,114,931 shares of the company’s stock worth $736,121,000 after purchasing an additional 1,297,536 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock worth $159,703,000 after purchasing an additional 1,155,313 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Novo Nordisk A/S by 10.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,589,222 shares of the company’s stock valued at $1,102,857,000 after buying an additional 823,036 shares during the last quarter. Hedge funds and other institutional investors own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Up 4.2 %

NYSE:NVO opened at $135.17 on Thursday. The firm has a market capitalization of $606.58 billion, a P/E ratio of 46.61, a P/E/G ratio of 1.43 and a beta of 0.42. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $134.18 and a 200 day moving average of $132.75. Novo Nordisk A/S has a 52 week low of $86.96 and a 52 week high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.91 billion. Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. On average, research analysts predict that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Shareholders of record on Friday, August 16th were issued a $0.5126 dividend. This represents a yield of 0.7%. The ex-dividend date of this dividend was Friday, August 16th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.83%.

Novo Nordisk A/S Company Profile

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.