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

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

A number of other equities research analysts also recently commented on the stock. BMO Capital Markets dropped their price objective on shares of Novo Nordisk A/S from $170.00 to $160.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Argus upped their target price on Novo Nordisk A/S from $125.00 to $160.00 and gave the company a buy rating in a research report on Monday, June 10th. The Goldman Sachs Group assumed coverage on Novo Nordisk A/S in a research report on Thursday, May 30th. They set a buy rating and a $156.00 price target on the stock. Finally, Cantor Fitzgerald reissued an overweight rating and set a $160.00 price objective on shares of Novo Nordisk A/S in a research report on Monday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $145.17.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $136.90 on Monday. The firm has a market cap of $614.34 billion, a PE ratio of 47.21, a price-to-earnings-growth ratio of 1.33 and a beta of 0.41. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.17. Novo Nordisk A/S has a 52-week low of $86.96 and a 52-week high of $148.15. The company’s 50 day moving average is $136.33 and its two-hundred day moving average is $131.34.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, August 26th. Shareholders of record on Friday, August 16th will be issued a $0.5126 dividend. The ex-dividend date is Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is presently 24.83%.

Institutional Trading of Novo Nordisk A/S

Institutional investors have recently bought and sold shares of the company. Advisor OS LLC raised its position in Novo Nordisk A/S by 0.6% during the second quarter. Advisor OS LLC now owns 13,972 shares of the company’s stock worth $1,994,000 after acquiring an additional 82 shares during the last quarter. Cascade Financial Partners LLC grew its position in shares of Novo Nordisk A/S by 2.3% in the second quarter. Cascade Financial Partners LLC now owns 3,801 shares of the company’s stock valued at $543,000 after purchasing an additional 84 shares during the period. Cravens & Co Advisors LLC boosted its stake in Novo Nordisk A/S by 1.0% in the 1st quarter. Cravens & Co Advisors LLC now owns 8,250 shares of the company’s stock worth $1,059,000 after buying an additional 85 shares during the last quarter. AA Financial Advisors LLC grew its position in Novo Nordisk A/S by 3.2% during the second quarter. AA Financial Advisors LLC now owns 2,805 shares of the company’s stock valued at $400,000 after acquiring an additional 86 shares during the period. Finally, Steel Grove Capital Advisors LLC increased its position in Novo Nordisk A/S by 2.3% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 3,790 shares of the company’s stock worth $541,000 after purchasing an additional 86 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other institutional investors.

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.