Novo Nordisk A/S’s (NVO) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Novo Nordisk A/S (NYSE:NVO) in a report published on Thursday morning, Benzinga reports. They currently have a $160.00 target price on the stock.

A number of other research firms have also recently commented on NVO. StockNews.com cut Novo Nordisk A/S from a strong-buy rating to a buy rating in a research report on Wednesday, October 9th. BMO Capital Markets lowered their target price 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $145.17.

Novo Nordisk A/S Stock Up 2.1 %

Novo Nordisk A/S stock opened at $120.04 on Thursday. Novo Nordisk A/S has a one year low of $92.94 and a one year high of $148.15. The stock has a market cap of $538.68 billion, a PE ratio of 41.39, a price-to-earnings-growth ratio of 1.53 and a beta of 0.42. The stock has a fifty day moving average of $129.39 and a 200 day moving average of $132.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results 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). The company 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%. As a group, sell-side analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

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

Institutional Trading of Novo Nordisk A/S

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New Hampshire raised its position in Novo Nordisk A/S by 1,356.8% in the first quarter. Bank of New Hampshire now owns 13,257 shares of the company’s stock valued at $1,702,000 after purchasing an additional 12,347 shares during the period. Cim LLC purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $23,547,000. Burford Brothers Inc. purchased a new stake in shares of Novo Nordisk A/S during the fourth quarter worth $1,045,000. Fox Hill Wealth Management increased its position in shares of Novo Nordisk A/S by 121.3% during the first quarter. Fox Hill Wealth Management now owns 28,320 shares of the company’s stock worth $3,636,000 after acquiring an additional 15,525 shares during the period. Finally, Independence Bank of Kentucky increased its position in shares of Novo Nordisk A/S by 192.7% during the third quarter. Independence Bank of Kentucky now owns 11,490 shares of the company’s stock worth $1,368,000 after acquiring an additional 7,565 shares during the period. Hedge funds and other 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.