StockNews.com Downgrades Novo Nordisk A/S (NYSE:NVO) to Buy

StockNews.com downgraded shares of Novo Nordisk A/S (NYSE:NVO) from a strong-buy rating to a buy rating in a research note published on Friday morning.

A number of other analysts have also weighed in on NVO. Kepler Capital Markets upgraded Novo Nordisk A/S from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th. Stifel Nicolaus lowered Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group upgraded Novo Nordisk A/S from a “sell” rating to a “buy” rating in a research report on Wednesday, January 8th. Morgan Stanley began coverage on Novo Nordisk A/S in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, Sanford C. Bernstein upgraded Novo Nordisk A/S from an “underperform” rating to a “market perform” rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.25.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $76.88 on Friday. Novo Nordisk A/S has a twelve month low of $73.80 and a twelve month high of $148.15. The firm has a market cap of $344.98 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 0.90 and a beta of 0.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.55 and a current ratio of 0.74. The business has a fifty day moving average of $83.34 and a 200-day moving average of $101.22.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results on Wednesday, February 5th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Novo Nordisk A/S had a return on equity of 84.68% and a net margin of 34.81%. On average, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, April 8th. Stockholders of record on Monday, March 31st will be given a dividend of $0.7874 per share. This is a positive change from Novo Nordisk A/S’s previous semi-annual dividend of $0.51. This represents a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 31st. Novo Nordisk A/S’s payout ratio is presently 47.72%.

Hedge Funds Weigh In On Novo Nordisk A/S

Institutional investors have recently modified their holdings of the stock. Center for Financial Planning Inc. grew its position in shares of Novo Nordisk A/S by 72.4% during the 4th quarter. Center for Financial Planning Inc. now owns 293 shares of the company’s stock worth $25,000 after buying an additional 123 shares during the period. Strategic Investment Solutions Inc. IL grew its position in shares of Novo Nordisk A/S by 2,727.3% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 311 shares of the company’s stock worth $27,000 after buying an additional 300 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of Novo Nordisk A/S during the 3rd quarter worth about $28,000. Park Square Financial Group LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth about $29,000. Finally, Transce3nd LLC acquired a new position in shares of Novo Nordisk A/S during the 4th quarter worth about $33,000. 11.54% of the stock is currently owned by institutional investors and hedge funds.

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.