Novo Nordisk A/S (NYSE:NVO) Given New $70.00 Price Target at TD Cowen

Novo Nordisk A/S (NYSE:NVO) had its target price reduced by TD Cowen from $105.00 to $70.00 in a report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. BNP Paribas Exane upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Wednesday, August 13th. Dbs Bank lowered shares of Novo Nordisk A/S to a “sell” rating in a research note on Friday, April 25th. Wall Street Zen cut shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. BNP Paribas upgraded shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Finally, HSBC downgraded Novo Nordisk A/S from a “buy” rating to a “hold” rating and set a $57.00 price target for the company. in a research note on Thursday, July 31st. Three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Novo Nordisk A/S has an average rating of “Hold” and an average price target of $81.00.

Novo Nordisk A/S Stock Performance

Shares of NVO opened at $54.7420 on Tuesday. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $139.74. The company has a market cap of $244.42 billion, a PE ratio of 15.04, a P/E/G ratio of 1.84 and a beta of 0.63. The stock has a 50-day moving average of $64.03 and a 200-day moving average of $69.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Novo Nordisk A/S had a return on equity of 78.64% and a net margin of 35.60%.The business had revenue of $11.69 billion for the quarter, compared to the consensus estimate of $77.51 billion. On average, equities research analysts predict that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, August 26th. Shareholders of record on Monday, August 18th will be given a $0.4119 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is currently 22.53%.

Institutional Investors Weigh In On Novo Nordisk A/S

Hedge funds have recently made changes to their positions in the business. Park Square Financial Group LLC bought a new stake in Novo Nordisk A/S in the fourth quarter worth about $29,000. Transce3nd LLC purchased a new stake in shares of Novo Nordisk A/S during the 4th quarter worth approximately $33,000. North Capital Inc. bought a new stake in shares of Novo Nordisk A/S in the 1st quarter worth approximately $27,000. Copeland Capital Management LLC lifted its stake in Novo Nordisk A/S by 184.8% in the first quarter. Copeland Capital Management LLC now owns 393 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. Finally, Stone House Investment Management LLC purchased a new position in Novo Nordisk A/S in the first quarter valued at approximately $30,000. 11.54% of the stock is currently owned by 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.