Novo Nordisk A/S (NYSE:NVO) Receives Average Recommendation 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 presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $145.17.

Several equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday, September 16th. Argus lifted their price target on Novo Nordisk A/S from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, June 10th. StockNews.com raised Novo Nordisk A/S from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 18th. Finally, BMO Capital Markets lowered their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, August 8th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. First PREMIER Bank acquired a new stake in Novo Nordisk A/S in the 1st quarter valued at about $25,000. 1620 Investment Advisors Inc. purchased a new stake in Novo Nordisk A/S in the 2nd quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Novo Nordisk A/S during the 2nd quarter valued at $25,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Novo Nordisk A/S during the first quarter worth $26,000. Finally, Orion Capital Management LLC acquired a new position in shares of Novo Nordisk A/S in the first quarter worth $26,000. 11.54% of the stock is owned by hedge funds and other institutional investors.

Novo Nordisk A/S Stock Down 2.8 %

Shares of NYSE NVO opened at $120.76 on Monday. 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 business’s 50 day moving average is $131.97 and its two-hundred day moving average is $132.98. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15. The firm has a market cap of $541.91 billion, a price-to-earnings ratio of 41.64, a PEG ratio of 1.35 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.06). Novo Nordisk A/S had a net margin of 34.86% and a return on equity of 87.43%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. Research analysts predict that Novo Nordisk A/S will post 3.11 EPS 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 given a dividend of $0.5126 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s payout ratio is currently 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.