Novo Nordisk A/S (NYSE:NVO) Upgraded at 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 Friday.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets lowered their target price on Novo Nordisk A/S from $160.00 to $156.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $160.00 price target on shares of Novo Nordisk A/S in a research report on Thursday, October 10th. One 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’s stock. According to data from MarketBeat.com, Novo Nordisk A/S presently has an average rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Performance

Shares of NYSE:NVO opened at $111.94 on Friday. The business’s fifty day moving average price is $124.25 and its two-hundred day moving average price is $130.94. 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 has a fifty-two week low of $94.73 and a fifty-two week high of $148.15. The stock has a market capitalization of $502.33 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 1.46 and a beta of 0.43.

Novo Nordisk A/S (NYSE:NVO) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $9.91 billion. As a group, analysts predict that Novo Nordisk A/S will post 3.01 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 26th. Investors 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 dividend payout ratio is presently 24.66%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. acquired a new position in Novo Nordisk A/S during the second quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Novo Nordisk A/S in the second quarter valued at $25,000. Orion Capital Management LLC bought a new position in Novo Nordisk A/S in the 1st quarter valued at about $26,000. Gilliland Jeter Wealth Management LLC increased its stake in shares of Novo Nordisk A/S by 200.0% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock worth $26,000 after purchasing an additional 120 shares during the period. Finally, Halpern Financial Inc. increased its position in Novo Nordisk A/S by 113.0% during the 2nd quarter. Halpern Financial Inc. now owns 213 shares of the company’s stock worth $30,000 after buying an additional 113 shares during the period. Institutional investors and hedge funds own 11.54% of the company’s stock.

About Novo Nordisk A/S

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.