Novo Nordisk A/S (NYSE:NVO) Cut to Neutral at UBS Group

UBS Group downgraded shares of Novo Nordisk A/S (NYSE:NVO) from a buy rating to a neutral rating in a report issued on Tuesday, MarketBeat.com reports.

A number of other brokerages have also issued reports on NVO. BNP Paribas initiated coverage on shares of Novo Nordisk A/S in a research note on Tuesday, April 15th. They set an “underperform” rating for the company. HSBC cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price objective for the company. in a research report on Thursday, July 31st. Guggenheim lowered shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 17th. BMO Capital Markets reiterated a “market perform” rating and issued a $64.00 price target (down previously from $105.00) on shares of Novo Nordisk A/S in a report on Thursday, April 17th. Finally, Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $93.67.

Novo Nordisk A/S Stock Up 7.5%

Shares of NYSE:NVO opened at $48.76 on Tuesday. The firm has a market capitalization of $217.73 billion, a PE ratio of 13.40, a price-to-earnings-growth ratio of 1.37 and a beta of 0.63. The business has a 50 day simple moving average of $67.55 and a two-hundred day simple moving average of $71.81. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $139.74. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.74 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. Novo Nordisk A/S had a return on equity of 84.92% and a net margin of 35.60%. On average, equities analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a dividend of $0.4119 per share. This represents a yield of 240.0%. The ex-dividend date of this dividend is Monday, August 18th. Novo Nordisk A/S’s dividend payout ratio (DPR) is 45.05%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Verus Capital Partners LLC boosted its position in Novo Nordisk A/S by 131.0% during the second quarter. Verus Capital Partners LLC now owns 8,599 shares of the company’s stock valued at $594,000 after purchasing an additional 4,876 shares in the last quarter. Birchcreek Wealth Management LLC lifted its position in shares of Novo Nordisk A/S by 82.9% during the second quarter. Birchcreek Wealth Management LLC now owns 5,427 shares of the company’s stock valued at $375,000 after buying an additional 2,460 shares during the last quarter. Samalin Investment Counsel LLC boosted its holdings in shares of Novo Nordisk A/S by 5.6% in the 2nd quarter. Samalin Investment Counsel LLC now owns 6,979 shares of the company’s stock valued at $482,000 after buying an additional 372 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of Novo Nordisk A/S in the 2nd quarter worth approximately $1,873,000. Finally, Allworth Financial LP raised its stake in shares of Novo Nordisk A/S by 28.7% during the 2nd quarter. Allworth Financial LP now owns 39,650 shares of the company’s stock worth $2,737,000 after acquiring an additional 8,845 shares in the last quarter. 11.54% of the stock is currently owned by hedge funds and other 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.