Novo Nordisk A/S (NYSE:NVO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a strong-buy rating in a research report released on Wednesday morning.

Other analysts have also issued research reports about the company. The Goldman Sachs Group started coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a buy rating and a $156.00 price target on the stock. BMO Capital Markets decreased their price target on 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 increased their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a buy rating in a report on Monday, June 10th. Finally, Cantor Fitzgerald restated an overweight rating and set a $160.00 price target on shares of Novo Nordisk A/S in a report on Monday, September 16th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $145.17.

Novo Nordisk A/S Stock Down 5.5 %

Shares of NVO opened at $127.51 on Wednesday. The stock has a market capitalization of $572.21 billion, a price-to-earnings ratio of 43.97, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 1 year low of $86.96 and a 1 year high of $148.15. The business’s 50 day simple moving average is $133.13 and its 200-day simple moving average is $133.26. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.75.

Novo Nordisk A/S (NYSE:NVO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.06). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.91 billion. As a group, equities analysts expect that Novo Nordisk A/S will post 3.11 earnings per share for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

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

Institutional Investors Weigh In On Novo Nordisk A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First PREMIER Bank bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Novo Nordisk A/S in the 2nd quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $26,000. Finally, Orion Capital Management LLC bought a new stake in shares of Novo Nordisk A/S in the 1st quarter valued at about $26,000. Institutional investors own 11.54% of the company’s stock.

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.