Novo Nordisk A/S (NYSE:NVO) Given “Overweight” Rating at Cantor Fitzgerald

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

Several other equities analysts also recently weighed in on NVO. StockNews.com downgraded shares of Novo Nordisk A/S from a strong-buy rating to a buy rating in a report on Monday, August 19th. Argus lifted their target price on shares of Novo Nordisk A/S from $125.00 to $160.00 and gave the company a buy rating in a research note on Monday, June 10th. BMO Capital Markets cut their price target on Novo Nordisk A/S from $170.00 to $160.00 and set an outperform rating for the company in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group initiated coverage on Novo Nordisk A/S in a report on Thursday, May 30th. They set a buy rating and a $156.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $145.17.

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $136.90 on Monday. The stock’s fifty day moving average is $133.90 and its 200 day moving average is $133.14. Novo Nordisk A/S has a one year low of $86.96 and a one year high of $148.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market cap of $614.34 billion, a P/E ratio of 47.21, a P/E/G ratio of 1.48 and a beta of 0.42.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.65 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 the consensus estimate of $9.91 billion. 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 issued a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio is currently 24.83%.

Institutional Trading of Novo Nordisk A/S

Hedge funds have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. bought a new stake in shares of Novo Nordisk A/S in the second quarter worth about $25,000. Gilliland Jeter Wealth Management LLC grew its holdings in Novo Nordisk A/S by 200.0% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 180 shares of the company’s stock valued at $26,000 after buying an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Novo Nordisk A/S in the 2nd quarter worth approximately $25,000. First PREMIER Bank purchased a new stake in shares of Novo Nordisk A/S during the 1st quarter worth approximately $25,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Novo Nordisk A/S during the 1st quarter valued at approximately $26,000. 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.