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

Cantor Fitzgerald restated their overweight rating on shares of Novo Nordisk A/S (NYSE:NVOFree Report) in a research report report published on Monday morning, Benzinga reports. The firm currently has a $160.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Novo Nordisk A/S’s FY2024 earnings at $3.21 EPS.

Several other equities analysts have also commented on NVO. UBS Group initiated coverage on Novo Nordisk A/S in a research report on Tuesday, January 16th. They set a neutral rating on the stock. TD Cowen lifted their price target on Novo Nordisk A/S from $105.00 to $115.00 and gave the stock an outperform rating in a research note on Monday, December 4th. Finally, Morgan Stanley started coverage on Novo Nordisk A/S in a research note on Tuesday, January 23rd. They issued an overweight rating and a $120.00 price target on the stock. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $126.25.

Check Out Our Latest Analysis on Novo Nordisk A/S

Novo Nordisk A/S Price Performance

Shares of Novo Nordisk A/S stock opened at $127.55 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $572.38 billion, a PE ratio of 47.13, a price-to-earnings-growth ratio of 2.12 and a beta of 0.41. The business’s 50-day moving average price is $122.61 and its 200-day moving average price is $105.89. Novo Nordisk A/S has a 12 month low of $75.56 and a 12 month high of $138.28.

Novo Nordisk A/S (NYSE:NVOGet Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.66 by $0.05. The firm had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9.14 billion. Novo Nordisk A/S had a return on equity of 90.36% and a net margin of 36.03%. Sell-side analysts forecast that Novo Nordisk A/S will post 3.35 EPS for the current fiscal year.

Novo Nordisk A/S Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Tuesday, April 2nd. Shareholders of record on Monday, March 25th will be paid a $0.664 dividend. This is a boost from Novo Nordisk A/S’s previous Semi-Annual dividend of $0.22. This represents a yield of 0.9%. The ex-dividend date is Friday, March 22nd. Novo Nordisk A/S’s payout ratio is 49.17%.

Institutional Investors Weigh In On Novo Nordisk A/S

A number of large investors have recently made changes to their positions in the business. Chilton Capital Management LLC grew its position in shares of Novo Nordisk A/S by 0.6% in the 2nd quarter. Chilton Capital Management LLC now owns 10,063 shares of the company’s stock worth $1,628,000 after buying an additional 63 shares during the last quarter. IHT Wealth Management LLC grew its position in shares of Novo Nordisk A/S by 3.5% in the 4th quarter. IHT Wealth Management LLC now owns 2,369 shares of the company’s stock worth $321,000 after buying an additional 80 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Novo Nordisk A/S by 0.6% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 15,421 shares of the company’s stock worth $1,595,000 after buying an additional 90 shares during the last quarter. Hancock Whitney Corp grew its position in shares of Novo Nordisk A/S by 4.1% in the 1st quarter. Hancock Whitney Corp now owns 2,342 shares of the company’s stock worth $373,000 after buying an additional 92 shares during the last quarter. Finally, Clarius Group LLC grew its position in shares of Novo Nordisk A/S by 0.5% in the 4th quarter. Clarius Group LLC now owns 18,505 shares of the company’s stock worth $1,914,000 after buying an additional 93 shares during the last quarter. 11.54% of the stock is currently owned by institutional investors.

About Novo Nordisk A/S

(Get Free Report)

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.

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Analyst Recommendations for Novo Nordisk A/S (NYSE:NVO)

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