Novo Nordisk A/S (NYSE:NVO) Rating Increased to Strong-Buy 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 released on Friday.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of Novo Nordisk A/S in a report on Thursday, October 10th. BMO Capital Markets reduced their price target on shares of 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. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Novo Nordisk A/S has a consensus rating of “Buy” and an average price target of $144.50.

Novo Nordisk A/S Stock Down 0.0 %

Shares of NVO traded down $0.01 during mid-day trading on Friday, reaching $111.94. The company had a trading volume of 4,554,729 shares, compared to its average volume of 4,364,513. The firm has a 50-day moving average price of $124.25 and a 200 day moving average price of $130.85. The company has a market capitalization of $502.33 billion, a price-to-earnings ratio of 38.34, a price-to-earnings-growth ratio of 1.48 and a beta of 0.42. Novo Nordisk A/S has a 52 week low of $94.73 and a 52 week 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.

Novo Nordisk A/S (NYSE:NVO) last issued 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). Novo Nordisk A/S had a return on equity of 87.43% and a net margin of 34.86%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.91 billion. On average, sell-side analysts forecast that Novo Nordisk A/S will post 3.01 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 26th. Stockholders of record on Friday, August 16th were paid a $0.5126 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 0.7%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 24.66%.

Institutional Trading of Novo Nordisk A/S

Several hedge funds have recently bought and sold shares of the stock. GQG Partners LLC grew its stake in shares of Novo Nordisk A/S by 654.6% during the 1st quarter. GQG Partners LLC now owns 3,633,064 shares of the company’s stock valued at $466,485,000 after acquiring an additional 3,151,584 shares during the period. International Assets Investment Management LLC boosted its holdings in Novo Nordisk A/S by 10,608.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,813,571 shares of the company’s stock worth $215,942,000 after buying an additional 1,796,635 shares during the period. DSM Capital Partners LLC raised its holdings in Novo Nordisk A/S by 257,816.0% during the second quarter. DSM Capital Partners LLC now owns 1,593,921 shares of the company’s stock valued at $227,516,000 after acquiring an additional 1,593,303 shares during the period. Acadian Asset Management LLC lifted its position in shares of Novo Nordisk A/S by 1,300.8% in the first quarter. Acadian Asset Management LLC now owns 1,244,128 shares of the company’s stock valued at $159,703,000 after acquiring an additional 1,155,313 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of Novo Nordisk A/S in the third quarter worth about $98,765,000. Institutional investors 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.