Novo Nordisk A/S (NYSE:NVO) Upgraded by Rothschild & Co Redburn to “Buy” Rating

Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a neutral rating to a buy rating in a report published on Tuesday, Marketbeat.com reports.

Several other equities research analysts also recently issued reports on NVO. Hsbc Global Res downgraded shares of Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 31st. BNP Paribas raised shares of Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a research report on Wednesday, August 13th. 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 report on Thursday, July 31st. Wall Street Zen cut Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Zacks Research cut Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 20th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $81.00.

Novo Nordisk A/S Stock Performance

Novo Nordisk A/S stock opened at $57.19 on Tuesday. The firm has a market capitalization of $255.35 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 2.11 and a beta of 0.66. Novo Nordisk A/S has a one year low of $45.05 and a one year high of $135.20. The stock’s 50 day moving average price is $57.44 and its 200 day moving average price is $65.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78.

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. Novo Nordisk A/S had a net margin of 35.60% and a return on equity of 78.64%. The company had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. As a group, sell-side analysts expect that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were paid a dividend of $0.4119 per share. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio (DPR) is 22.53%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. First Hawaiian Bank lifted its holdings in Novo Nordisk A/S by 0.6% in the first quarter. First Hawaiian Bank now owns 22,401 shares of the company’s stock worth $1,556,000 after acquiring an additional 142 shares during the last quarter. Anchor Investment Management LLC lifted its holdings in Novo Nordisk A/S by 1.1% in the first quarter. Anchor Investment Management LLC now owns 13,597 shares of the company’s stock worth $944,000 after acquiring an additional 150 shares during the last quarter. Xponance Inc. lifted its holdings in shares of Novo Nordisk A/S by 5.0% in the 1st quarter. Xponance Inc. now owns 3,314 shares of the company’s stock worth $230,000 after purchasing an additional 158 shares during the last quarter. Foster Dykema Cabot & Partners LLC lifted its holdings in shares of Novo Nordisk A/S by 3.8% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 4,526 shares of the company’s stock worth $319,000 after purchasing an additional 166 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Novo Nordisk A/S by 3.6% in the 1st quarter. 180 Wealth Advisors LLC now owns 5,014 shares of the company’s stock worth $348,000 after purchasing an additional 173 shares during the last quarter. 11.54% of the stock is currently owned by 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.