Novo Nordisk A/S (NYSE:NVO) Receives Average Recommendation of “Hold” from Analysts

Novo Nordisk A/S (NYSE:NVO) has earned a consensus recommendation of “Hold” from the twenty-one ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $76.00.

Several research firms have weighed in on NVO. Morgan Stanley downgraded Novo Nordisk A/S from an “overweight” rating to an “underweight” rating and dropped their target price for the company from $59.00 to $47.00 in a research report on Monday, September 29th. Dbs Bank raised Novo Nordisk A/S from a “strong sell” rating to a “hold” rating in a research report on Friday, August 22nd. BNP Paribas Exane raised Novo Nordisk A/S from an “underperform” rating to a “neutral” rating and set a $54.00 target price for the company in a research report on Wednesday, August 13th. UBS Group downgraded Novo Nordisk A/S from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 5th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $55.00 price objective (up previously from $50.00) on shares of Novo Nordisk A/S in a research note on Tuesday, October 14th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Revolve Wealth Partners LLC grew its holdings in Novo Nordisk A/S by 8.7% during the fourth 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. Truist Financial Corp lifted its position in Novo Nordisk A/S by 16.3% during the first quarter. Truist Financial Corp now owns 655,208 shares of the company’s stock worth $45,498,000 after buying an additional 91,974 shares during the period. Wayfinding Financial LLC purchased a new position in Novo Nordisk A/S during the first quarter worth about $46,000. Bank of New York Mellon Corp increased its stake in Novo Nordisk A/S by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 839,802 shares of the company’s stock worth $58,316,000 after acquiring an additional 47,804 shares during the last quarter. Finally, HM Payson & Co. increased its stake in Novo Nordisk A/S by 58.5% during the first quarter. HM Payson & Co. now owns 7,041 shares of the company’s stock worth $489,000 after acquiring an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 11.54% of the company’s stock.

Novo Nordisk A/S Trading Down 0.7%

Shares of NYSE:NVO opened at $49.11 on Tuesday. The business’s 50 day moving average price is $56.03 and its 200-day moving average price is $61.85. Novo Nordisk A/S has a 1 year low of $45.05 and a 1 year high of $112.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.78 and a quick ratio of 0.56. The firm has a market capitalization of $219.26 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 2.33 and a beta of 0.68.

Novo Nordisk A/S (NYSE:NVO) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.97 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $77.51 billion. On average, equities research analysts forecast that Novo Nordisk A/S will post 3.84 earnings per share 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. Shareholders of record on Monday, August 18th were paid a $0.4119 dividend. The ex-dividend date was Monday, August 18th. This represents a yield of 240.0%. Novo Nordisk A/S’s payout ratio is currently 22.53%.

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.