Novo Nordisk A/S (NYSE:NVO) Upgraded at Rothschild Redb

Rothschild Redb upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Zacks Research cut Novo Nordisk A/S from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 20th. BNP Paribas upgraded Novo Nordisk A/S from an “underperform” rating to a “neutral” rating in a report on Wednesday, August 13th. Dbs Bank upgraded Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a report on Friday, August 22nd. Hsbc Global Res cut Novo Nordisk A/S from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 31st. Finally, Rothschild & Co Redburn upgraded Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $81.00.

Novo Nordisk A/S Price Performance

Shares of NYSE NVO opened at $61.86 on Tuesday. The firm has a market capitalization of $276.22 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.21 and a beta of 0.66. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $57.03 and its two-hundred day simple moving average is $65.62. Novo Nordisk A/S has a twelve month low of $45.05 and a twelve month high of $135.20.

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, 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 firm had revenue of $11.69 billion during the quarter, compared to analysts’ expectations of $77.51 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 EPS for the current fiscal year.

Novo Nordisk A/S Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, August 26th. Investors of record on Monday, August 18th were issued 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 is currently 22.53%.

Institutional Investors Weigh In On Novo Nordisk A/S

Several institutional investors have recently bought and sold shares of the stock. Jennison Associates LLC lifted its holdings in Novo Nordisk A/S by 0.3% in the 2nd quarter. Jennison Associates LLC now owns 18,885,343 shares of the company’s stock worth $1,303,466,000 after buying an additional 63,341 shares during the period. Loomis Sayles & Co. L P lifted its holdings in Novo Nordisk A/S by 1.5% in the 2nd quarter. Loomis Sayles & Co. L P now owns 12,576,031 shares of the company’s stock worth $867,998,000 after buying an additional 187,789 shares during the period. Kingstone Capital Partners Texas LLC lifted its holdings in Novo Nordisk A/S by 301,443.6% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 10,005,216 shares of the company’s stock worth $690,560,000 after buying an additional 10,001,898 shares during the period. Folketrygdfondet lifted its holdings in Novo Nordisk A/S by 6.9% in the 1st quarter. Folketrygdfondet now owns 9,521,912 shares of the company’s stock worth $661,202,000 after buying an additional 617,974 shares during the period. Finally, Sustainable Growth Advisers LP lifted its holdings in Novo Nordisk A/S by 11.7% in the 2nd quarter. Sustainable Growth Advisers LP now owns 6,192,636 shares of the company’s stock worth $427,416,000 after buying an additional 649,390 shares during the period. 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.