Novo Nordisk A/S’s (NVO) “Hold (C)” Rating Reaffirmed at Weiss Ratings

Weiss Ratings reaffirmed their hold (c) rating on shares of Novo Nordisk A/S (NYSE:NVO) in a research note issued to investors on Tuesday morning,Weiss Ratings reports.

NVO has been the topic of a number of other reports. Sanford C. Bernstein raised Novo Nordisk A/S from a “market perform” rating to an “outperform” rating in a research report on Tuesday, September 9th. UBS Group lowered Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a report on Tuesday, August 5th. BMO Capital Markets reissued a “market perform” rating and issued a $55.00 price objective (up from $50.00) on shares of Novo Nordisk A/S in a report on Tuesday. Berenberg Bank raised Novo Nordisk A/S from a “hold” rating to a “buy” rating in a report on Wednesday, September 17th. Finally, Morgan Stanley lowered Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and lowered their price objective for the company from $59.00 to $47.00 in a report on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Novo Nordisk A/S currently has a consensus rating of “Moderate Buy” and an average target price of $76.00.

Novo Nordisk A/S Stock Down 1.4%

Shares of NYSE NVO opened at $56.67 on Tuesday. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $119.09. The firm has a market cap of $253.03 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 2.60 and a beta of 0.68. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.56 and a current ratio of 0.78. The stock’s 50-day simple moving average is $55.80 and its 200-day simple moving average is $62.98.

Novo Nordisk A/S (NYSE:NVO) last announced its earnings results 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 business had revenue of $11.69 billion for the quarter, compared to analyst estimates of $77.51 billion. As a group, equities analysts anticipate that Novo Nordisk A/S will post 3.84 earnings per share 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. Stockholders of record on Monday, August 18th were issued a dividend of $0.4119 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 240.0%. Novo Nordisk A/S’s dividend payout ratio is 22.53%.

Hedge Funds Weigh In On Novo Nordisk A/S

Several institutional investors have recently made changes to their positions in NVO. Copeland Capital Management LLC grew its holdings in shares of Novo Nordisk A/S by 184.8% during 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. North Capital Inc. acquired a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $27,000. Stone House Investment Management LLC acquired a new position in shares of Novo Nordisk A/S during the first quarter worth approximately $30,000. NewSquare Capital LLC boosted its position in shares of Novo Nordisk A/S by 174.1% during the second quarter. NewSquare Capital LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 282 shares during the period. Finally, Disciplina Capital Management LLC boosted its position in shares of Novo Nordisk A/S by 162.3% during the first quarter. Disciplina Capital Management LLC now owns 480 shares of the company’s stock worth $33,000 after buying an additional 297 shares during the period. 11.54% of the stock is 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.