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 note issued to investors on Tuesday morning.

Several other equities analysts have also recently commented on the company. Argus upped 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. Cantor Fitzgerald restated an overweight rating and issued a $160.00 target price on shares of Novo Nordisk A/S in a research note on Monday, September 16th. Finally, BMO Capital Markets reduced their target price on Novo Nordisk A/S from $170.00 to $160.00 and set an outperform rating for the company in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $145.17.

Novo Nordisk A/S Stock Down 1.2 %

NVO opened at $115.11 on Tuesday. The business has a 50 day moving average of $130.83 and a 200-day moving average of $132.54. The stock has a market capitalization of $516.56 billion, a price-to-earnings ratio of 39.69, a P/E/G ratio of 1.35 and a beta of 0.42. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. Novo Nordisk A/S has a 1-year low of $87.02 and a 1-year high of $148.15.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The company had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.91 billion. As a group, sell-side analysts anticipate that Novo Nordisk A/S will post 3.11 earnings per share for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently declared 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 dividend payout ratio (DPR) is 24.83%.

Institutional Inflows and Outflows

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

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.