Novo Nordisk A/S (NYSE:NVO) Upgraded to Buy at HSBC

HSBC upgraded shares of Novo Nordisk A/S (NYSE:NVO) from a hold rating to a buy rating in a research report released on Wednesday morning, Marketbeat.com reports.

NVO has been the subject of several other reports. UBS Group downgraded shares of Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 5th. Rothschild & Co Redburn upgraded shares of Novo Nordisk A/S from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 16th. Wall Street Zen downgraded shares of Novo Nordisk A/S from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. 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. Finally, Sanford C. Bernstein upgraded shares of Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research note on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.50.

Novo Nordisk A/S Price Performance

Novo Nordisk A/S stock opened at $59.15 on Wednesday. The firm has a market capitalization of $264.08 billion, a P/E ratio of 16.25, a PEG ratio of 2.13 and a beta of 0.68. The firm has a fifty day moving average of $55.40 and a 200-day moving average of $64.13. The company has a quick ratio of 0.56, a current ratio of 0.78 and a debt-to-equity ratio of 0.52. Novo Nordisk A/S has a 52-week low of $45.05 and a 52-week high of $120.56.

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

Novo Nordisk A/S Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Revolve Wealth Partners LLC increased its holdings in shares of Novo Nordisk A/S by 8.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,490 shares of the company’s stock worth $214,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC increased its holdings in shares of Novo Nordisk A/S by 7,508.7% in the 1st quarter. GAMMA Investing LLC now owns 657,319 shares of the company’s stock worth $45,644,000 after acquiring an additional 648,680 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of Novo Nordisk A/S by 34.2% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 4,179 shares of the company’s stock worth $290,000 after acquiring an additional 1,064 shares during the period. Rhumbline Advisers increased its holdings in shares of Novo Nordisk A/S by 10.2% in the 1st quarter. Rhumbline Advisers now owns 63,539 shares of the company’s stock worth $4,412,000 after acquiring an additional 5,898 shares during the period. Finally, NBC Securities Inc. increased its holdings in shares of Novo Nordisk A/S by 79,440.0% in the 1st quarter. NBC Securities Inc. now owns 7,954 shares of the company’s stock worth $552,000 after acquiring an additional 7,944 shares during the period. 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.